Connor Clark & Lunn Investment Management Ltd. Sells 56,789 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Immunovant, Inc. (NASDAQ:IMVT) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,799 shares of the company’s stock after selling 56,789 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Immunovant were worth $5,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IMVT. KBC Group NV raised its stake in shares of Immunovant by 46.2% during the 3rd 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. Quest Partners LLC increased its holdings in Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after buying an additional 1,786 shares during the last quarter. Headlands Technologies LLC bought a new stake in Immunovant in the second quarter worth about $77,000. Assetmark Inc. boosted its stake in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IMVT shares. Raymond James reissued an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer increased their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $48.10.

Insider Transactions at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 4,174 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $106,228.30. Following the transaction, the chief financial officer now directly owns 331,169 shares in the company, valued at $8,428,251.05. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Salzmann sold 4,460 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $131,837.60. Following the completion of the sale, the chief executive officer now owns 1,003,884 shares of the company’s stock, valued at approximately $29,674,811.04. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,659 shares of company stock valued at $2,096,890 in the last quarter. Insiders own 5.90% of the company’s stock.

Immunovant Stock Up 1.2 %

NASDAQ:IMVT opened at $26.87 on Friday. The stock has a market cap of $3.94 billion, a P/E ratio of -12.10 and a beta of 0.66. The business’s 50-day moving average price is $29.08 and its two-hundred day moving average price is $28.90. Immunovant, Inc. has a twelve month low of $24.61 and a twelve month high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the prior year, the company posted ($0.45) EPS. On average, equities research analysts expect that Immunovant, Inc. will post -2.7 EPS for the current fiscal year.

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.