New York Life Investment Management LLC Sells 482 Shares of Immunovant, Inc. (NASDAQ:IMVT)

New York Life Investment Management LLC lowered its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,438 shares of the company’s stock after selling 482 shares during the quarter. New York Life Investment Management LLC’s holdings in Immunovant were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IMVT. Headlands Technologies LLC bought a new position in Immunovant during the fourth quarter valued at about $27,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Immunovant by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after purchasing an additional 1,651 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Immunovant in the 3rd quarter worth approximately $230,000. Allspring Global Investments Holdings LLC lifted its stake in Immunovant by 56.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company’s stock valued at $238,000 after purchasing an additional 2,228 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Immunovant during the third quarter valued at $257,000. Institutional investors own 47.08% of the company’s stock.

Immunovant Stock Down 0.3 %

Immunovant stock opened at $29.58 on Wednesday. The firm has a fifty day simple moving average of $30.89 and a two-hundred day simple moving average of $35.39. Immunovant, Inc. has a twelve month low of $17.53 and a twelve month high of $45.58. The company has a market capitalization of $4.30 billion, a PE ratio of -16.08 and a beta of 0.70.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. As a group, equities analysts expect that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IMVT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Wolfe Research initiated coverage on shares of Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Truist Financial restated a “buy” rating and set a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 target price on the stock. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $48.00.

Insider Buying and Selling at Immunovant

In other news, insider Michael Geffner sold 3,261 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the sale, the insider now directly owns 141,616 shares of the company’s stock, valued at approximately $4,092,702.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Michael Geffner sold 3,261 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the transaction, the insider now owns 141,616 shares of the company’s stock, valued at approximately $4,092,702.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark S. Levine sold 2,134 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the transaction, the insider now owns 301,968 shares of the company’s stock, valued at approximately $10,916,143.20. The disclosure for this sale can be found here. Insiders sold 81,560 shares of company stock valued at $2,424,601 in the last 90 days. Insiders own 4.80% of the company’s stock.

Immunovant Company Profile

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.