E Fund Management Co. Ltd. Lowers Stock Holdings in Immunovant, Inc. (NASDAQ:IMVT)

E Fund Management Co. Ltd. trimmed its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 15.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,250 shares of the company’s stock after selling 1,539 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Immunovant were worth $204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KBC Group NV raised its position in Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares during the period. Assetmark Inc. boosted its holdings in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after buying an additional 1,228 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Immunovant during the 4th quarter worth approximately $270,000. Advantage Alpha Capital Partners LP acquired a new position in shares of Immunovant during the third quarter valued at approximately $427,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Immunovant in the fourth quarter worth approximately $505,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Stock Up 2.6 %

NASDAQ:IMVT opened at $20.02 on Monday. Immunovant, Inc. has a 52 week low of $17.65 and a 52 week high of $35.97. The stock’s fifty day moving average is $21.85 and its two-hundred day moving average is $26.48. The company has a market capitalization of $3.40 billion, a P/E ratio of -7.64 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Sell-side analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jay S. Stout sold 2,195 shares of Immunovant stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the completion of the transaction, the chief technology officer now directly owns 139,991 shares in the company, valued at approximately $3,302,387.69. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eva Renee Barnett sold 4,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $98,930.50. Following the sale, the chief financial officer now owns 327,064 shares in the company, valued at approximately $7,882,242.40. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,510 shares of company stock worth $656,886 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

IMVT has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, February 7th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Jefferies Financial Group initiated coverage on shares of Immunovant in a research note on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.55.

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.