Immunovant, Inc. (NASDAQ:IMVT) is ADAR1 Capital Management LLC's 7th Largest Position

ADAR1 Capital Management LLC cut its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 31.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 787,478 shares of the company's stock after selling 354,429 shares during the period. Immunovant accounts for 3.9% of ADAR1 Capital Management LLC's portfolio, making the stock its 7th largest position. ADAR1 Capital Management LLC owned approximately 0.46% of Immunovant worth $19,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV raised its stake in shares of Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares in the last quarter. Rhumbline Advisers raised its stake in Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock valued at $2,005,000 after buying an additional 1,188 shares in the last quarter. Swiss National Bank lifted its holdings in Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after buying an additional 1,200 shares during the last quarter. Tyro Capital Management LLC grew its position in shares of Immunovant by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Immunovant by 4.0% in the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after acquiring an additional 1,541 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IMVT. Wolfe Research cut Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Wells Fargo & Company dropped their price objective on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group initiated coverage on Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price for the company. Finally, Bank of America cut their price target on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. One equities research 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 data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $41.00.

Insider Buying and Selling

In other news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the company's stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the completion of the transaction, the director now directly owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William L. Macias sold 2,383 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $56,786.89. Following the completion of the sale, the insider now owns 359,408 shares of the company's stock, valued at approximately $8,564,692.64. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,394 shares of company stock worth $956,666. Corporate insiders own 5.90% of the company's stock.

Immunovant Price Performance

Shares of Immunovant stock traded down $0.11 during trading on Friday, hitting $14.68. The stock had a trading volume of 1,862,077 shares, compared to its average volume of 1,190,097. The business has a fifty day moving average of $18.57 and a two-hundred day moving average of $24.06. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $34.47. The firm has a market cap of $2.49 billion, a P/E ratio of -5.60 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). As a group, research analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current year.

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.