Immunovant, Inc. (NASDAQ:IMVT) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC increased its position in Immunovant, Inc. (NASDAQ:IMVT) by 44.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,439 shares of the company’s stock after purchasing an additional 9,614 shares during the period. Intech Investment Management LLC’s holdings in Immunovant were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV grew its position in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Immunovant during the third quarter worth $517,000. Charles Schwab Investment Management Inc. boosted its holdings in Immunovant by 19.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock worth $15,750,000 after purchasing an additional 91,259 shares during the period. FMR LLC boosted its holdings in Immunovant by 19.6% in the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after purchasing an additional 2,053,688 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new stake in Immunovant during the third quarter valued at $427,000. 47.08% of the stock is owned by institutional investors.

Immunovant Price Performance

Shares of IMVT stock opened at $19.64 on Monday. Immunovant, Inc. has a 12-month low of $17.01 and a 12-month high of $34.47. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -7.50 and a beta of 0.68. The business has a 50 day simple moving average of $20.86 and a 200 day simple moving average of $25.64.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results 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). On average, equities analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Guggenheim restated a “buy” rating on shares of Immunovant in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Bank of America reduced their price objective on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $41.70.

Insider Activity at Immunovant

In related news, CTO Jay S. Stout sold 2,195 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now owns 139,991 shares of the company’s stock, valued at $3,302,387.69. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the sale, the director now owns 91,913 shares of the company’s stock, valued at $1,801,494.80. This trade represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,510 shares of company stock worth $813,686 in the last 90 days. Corporate 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.