New York Life Investment Management LLC Cuts Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

New York Life Investment Management LLC trimmed its position in shares of Immunovant, Inc. (NASDAQ:IMVTFree Report) by 13.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,920 shares of the company’s stock after selling 3,652 shares during the quarter. New York Life Investment Management LLC’s holdings in Immunovant were worth $880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ensign Peak Advisors Inc raised its position in shares of Immunovant by 72.6% during the 3rd quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock worth $35,000 after acquiring an additional 2,670 shares in the last quarter. UBS Group AG boosted its position in shares of Immunovant by 205.7% during the third quarter. UBS Group AG now owns 6,978 shares of the company’s stock worth $39,000 after buying an additional 4,695 shares during the period. Barclays PLC lifted its position in Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after purchasing an additional 2,200 shares during the period. Metropolitan Life Insurance Co NY lifted its position in Immunovant by 24.7% in the second quarter. Metropolitan Life Insurance Co NY now owns 2,951 shares of the company’s stock worth $56,000 after purchasing an additional 585 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Immunovant by 17.6% in the second quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock valued at $60,000 after buying an additional 2,293 shares in the last quarter. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial boosted their target price on shares of Immunovant from $30.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Piper Sandler increased their price target on shares of Immunovant from $28.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Bank of America lifted their price target on shares of Immunovant from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. HC Wainwright raised their price objective on shares of Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, UBS Group lifted their price target on shares of Immunovant from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant presently has a consensus rating of “Buy” and a consensus target price of $46.92.

View Our Latest Analysis on IMVT

Insiders Place Their Bets

In other Immunovant news, CEO Peter Salzmann sold 16,217 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $32.78, for a total value of $531,593.26. Following the completion of the sale, the chief executive officer now directly owns 948,509 shares in the company, valued at $31,092,125.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $41.83, for a total transaction of $147,032.45. Following the completion of the transaction, the chief financial officer now directly owns 323,350 shares in the company, valued at $13,525,730.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Salzmann sold 16,217 shares of Immunovant stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $32.78, for a total transaction of $531,593.26. Following the transaction, the chief executive officer now owns 948,509 shares of the company’s stock, valued at $31,092,125.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,624 shares of company stock worth $1,248,375. 4.80% of the stock is currently owned by company insiders.

Immunovant Trading Down 3.3 %

IMVT opened at $35.24 on Thursday. Immunovant, Inc. has a twelve month low of $14.05 and a twelve month high of $45.58. The company has a fifty day moving average of $40.35 and a 200-day moving average of $32.60.

Immunovant (NASDAQ:IMVTGet Free Report) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.45) earnings per share for the quarter, hitting the consensus estimate of ($0.45). As a group, analysts forecast that Immunovant, Inc. will post -1.83 EPS for the current year.

About Immunovant

(Free Report)

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 target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.

See Also

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Institutional Ownership by Quarter for Immunovant (NASDAQ:IMVT)

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