Banque Pictet & Cie SA Has $1.80 Million Position in Immunovant, Inc. (NASDAQ:IMVT)

Banque Pictet & Cie SA trimmed its position in Immunovant, Inc. (NASDAQ:IMVT) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,152 shares of the company’s stock after selling 2,157 shares during the quarter. Banque Pictet & Cie SA’s holdings in Immunovant were worth $1,799,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Immunovant in the fourth quarter valued at about $27,000. Assetmark Inc. bought a new position in Immunovant during the fourth quarter worth about $61,000. EntryPoint Capital LLC raised its stake in Immunovant by 288.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock worth $94,000 after purchasing an additional 2,163 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Immunovant in the 4th quarter valued at about $212,000. Finally, JFG Wealth Management LLC acquired a new position in shares of Immunovant during the 4th quarter worth approximately $295,000. Institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IMVT shares. HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research report on Thursday, May 30th. UBS Group dropped their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Wednesday, August 7th. Oppenheimer decreased their price target on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Fifteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.40.

Immunovant Trading Up 3.2 %

IMVT stock opened at $32.42 on Friday. The firm has a 50-day moving average price of $28.59 and a 200-day moving average price of $30.15. Immunovant, Inc. has a 12 month low of $19.50 and a 12 month high of $45.58. The stock has a market capitalization of $4.74 billion, a P/E ratio of -17.06 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter last year, the company earned ($0.57) EPS. As a group, equities analysts predict that Immunovant, Inc. will post -2.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Julia G. Butchko sold 1,527 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $42,847.62. Following the sale, the insider now owns 446,853 shares in the company, valued at approximately $12,538,695.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunovant news, insider Michael Geffner sold 3,456 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $95,938.56. Following the completion of the transaction, the insider now directly owns 138,160 shares in the company, valued at approximately $3,835,321.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Julia G. Butchko sold 1,527 shares of Immunovant stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $42,847.62. Following the transaction, the insider now owns 446,853 shares in the company, valued at approximately $12,538,695.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,475 shares of company stock worth $904,638. Insiders own 5.90% of the company’s stock.

Immunovant 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.