Profund Advisors LLC Has $359,000 Position in Immunovant, Inc. $IMVT

Profund Advisors LLC lessened its stake in Immunovant, Inc. (NASDAQ:IMVT) by 21.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,436 shares of the company’s stock after selling 6,124 shares during the quarter. Profund Advisors LLC’s holdings in Immunovant were worth $359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in shares of Immunovant during the 1st quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Immunovant during the first quarter valued at $37,000. Farther Finance Advisors LLC grew its stake in Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after purchasing an additional 2,855 shares in the last quarter. Headlands Technologies LLC acquired a new position in Immunovant in the 1st quarter worth about $51,000. Finally, Covestor Ltd raised its stake in shares of Immunovant by 187.5% during the 1st quarter. Covestor Ltd now owns 3,764 shares of the company’s stock worth $64,000 after purchasing an additional 2,455 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IMVT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research note on Tuesday, October 14th. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Immunovant in a research report on Thursday, September 4th. Bank of America dropped their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. UBS Group lifted their price objective on shares of Immunovant from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Citigroup reissued a “buy” rating on shares of Immunovant in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.78.

Immunovant Stock Performance

NASDAQ IMVT opened at $22.82 on Friday. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $29.49. The stock has a market cap of $4.00 billion, a PE ratio of -8.04 and a beta of 0.60. The firm has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $16.73.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same quarter in the previous year, the business earned ($0.74) earnings per share. Research analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Immunovant news, insider Michael Geffner sold 2,595 shares of Immunovant stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total transaction of $49,382.85. Following the sale, the insider directly owned 217,958 shares of the company’s stock, valued at approximately $4,147,740.74. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jay S. Stout sold 2,520 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total value of $47,955.60. Following the completion of the sale, the chief technology officer owned 200,814 shares in the company, valued at $3,821,490.42. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,972 shares of company stock valued at $143,908 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.