Connor Clark & Lunn Investment Management Ltd. cut its stake in Immunovant, Inc. (NASDAQ:IMVT – Get Rating) by 71.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,668 shares of the company’s stock after selling 110,373 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Immunovant were worth $246,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Immunovant by 43.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the company’s stock worth $44,000 after purchasing an additional 2,445 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Immunovant during the first quarter worth $50,000. Values First Advisors Inc. bought a new stake in shares of Immunovant during the fourth quarter worth $93,000. Virtus ETF Advisers LLC lifted its position in shares of Immunovant by 13.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 22,435 shares of the company’s stock worth $191,000 after purchasing an additional 2,641 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Immunovant during the fourth quarter worth $206,000. 34.53% of the stock is currently owned by institutional investors.
Immunovant Price Performance
Immunovant stock opened at $5.42 on Tuesday. The stock has a market capitalization of $631.85 million, a PE ratio of -3.69 and a beta of 0.79. Immunovant, Inc. has a 12 month low of $3.14 and a 12 month high of $9.53. The business has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $4.78.
Analyst Upgrades and Downgrades
IMVT has been the subject of several research analyst reports. Robert W. Baird decreased their target price on Immunovant to $6.00 in a research report on Thursday, June 9th. UBS Group cut their price target on Immunovant to $7.00 in a research note on Friday, May 20th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Immunovant in a research note on Thursday, June 9th.
Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.
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