F M Investments LLC Acquires New Holdings in Immunovant, Inc. (NASDAQ:IMVT)

F M Investments LLC bought a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 20,573 shares of the company's stock, valued at approximately $510,000.

A number of other large investors have also modified their holdings of IMVT. JPMorgan Chase & Co. boosted its holdings in shares of Immunovant by 405.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company's stock worth $28,568,000 after purchasing an additional 925,081 shares during the last quarter. Norges Bank acquired a new stake in Immunovant during the 4th quarter worth approximately $15,802,000. FMR LLC lifted its position in Immunovant by 4.5% during the fourth quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after buying an additional 560,344 shares in the last quarter. Principal Financial Group Inc. grew its stake in Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock worth $27,117,000 after buying an additional 391,436 shares during the period. Finally, State Street Corp increased its position in shares of Immunovant by 11.2% in the third quarter. State Street Corp now owns 3,022,342 shares of the company's stock worth $86,167,000 after acquiring an additional 303,386 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of Immunovant stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at $15,412,790.88. The trade was a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William L. Macias sold 2,383 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the sale, the insider now owns 359,408 shares in the company, valued at $8,564,692.64. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,394 shares of company stock worth $956,666. 5.90% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America decreased their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Wolfe Research downgraded Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Wells Fargo & Company lowered their price objective on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group initiated coverage on Immunovant in a research note on Monday, March 3rd. They set a "hold" rating and a $20.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $41.00.

Immunovant Price Performance

NASDAQ:IMVT traded up $0.04 during mid-day trading on Tuesday, reaching $15.47. The stock had a trading volume of 1,161,499 shares, compared to its average volume of 1,188,515. The stock's 50 day simple moving average is $18.43 and its two-hundred day simple moving average is $23.95. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -5.90 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). Sell-side analysts anticipate that Immunovant, Inc. will post -2.69 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.