Skandinaviska Enskilda Banken AB publ Reduces Stake in Immunovant, Inc. (NASDAQ:IMVT)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 60.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,316 shares of the company’s stock after selling 53,152 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Immunovant were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. KBC Group NV raised its stake 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 purchasing an additional 612 shares during the period. Assetmark Inc. increased its holdings in shares of Immunovant by 73.8% during 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 shares of Immunovant during the 4th quarter valued at approximately $270,000. Advantage Alpha Capital Partners LP acquired a new position in Immunovant in the third quarter valued at approximately $427,000. Finally, Raymond James Financial Inc. purchased a new position in Immunovant in the fourth quarter worth approximately $505,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Trading Up 2.6 %

Immunovant stock opened at $20.02 on Tuesday. Immunovant, Inc. has a twelve month low of $17.65 and a twelve month high of $35.97. The firm has a market capitalization of $3.40 billion, a P/E ratio of -7.64 and a beta of 0.68. The stock’s fifty day simple moving average is $21.23 and its 200-day simple moving average is $25.97.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company decreased their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, February 7th. Guggenheim reissued a “buy” rating on shares of Immunovant in a research note on Monday, March 10th. Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a “hold” rating and a $20.00 price objective for the company. Finally, Bank of America dropped their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $42.90.

Insider Buying and Selling

In other news, CEO Peter Salzmann sold 5,105 shares of Immunovant stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the sale, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares in the company, valued at $1,801,494.80. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,510 shares of company stock worth $813,686 over the last 90 days. 5.90% of the stock is owned by insiders.

About Immunovant

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.