Charles Schwab Investment Management Inc. Has $15.75 Million Stake in Immunovant, Inc. (NASDAQ:IMVT)

Charles Schwab Investment Management Inc. grew its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 19.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,430 shares of the company's stock after purchasing an additional 91,259 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.38% of Immunovant worth $15,750,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Immunovant by 198.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company's stock valued at $8,224,000 after acquiring an additional 207,003 shares during the period. Victory Capital Management Inc. increased its stake in shares of Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company's stock worth $9,561,000 after purchasing an additional 22,990 shares during the period. Rubric Capital Management LP acquired a new stake in Immunovant during the 2nd quarter worth approximately $1,548,000. First Turn Management LLC boosted its stake in Immunovant by 35.6% in the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company's stock valued at $18,359,000 after purchasing an additional 182,535 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock valued at $27,117,000 after buying an additional 391,436 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Insider Activity

In related news, CFO Eva Renee Barnett sold 5,162 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $152,588.72. Following the sale, the chief financial officer now owns 338,614 shares of the company's stock, valued at $10,009,429.84. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Salzmann sold 16,692 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $424,811.40. Following the transaction, the chief executive officer now directly owns 978,097 shares of the company's stock, valued at approximately $24,892,568.65. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,659 shares of company stock valued at $2,096,890. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IMVT has been the subject of a number of research reports. Raymond James reissued an "outperform" rating and set a $36.00 target price on shares of Immunovant in a report on Thursday, October 10th. 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 reaffirmed a "buy" rating and set a $51.00 target price on shares of Immunovant in a report on Friday, November 8th. UBS Group cut their price target on Immunovant from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Immunovant in a research note on Monday, September 9th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $48.10.

Immunovant Stock Up 0.8 %

Shares of IMVT stock traded up $0.22 on Friday, reaching $28.62. The company had a trading volume of 919,836 shares, compared to its average volume of 851,069. The stock has a market capitalization of $4.20 billion, a PE ratio of -12.89 and a beta of 0.64. The business's 50-day moving average is $28.96 and its 200 day moving average is $28.75. Immunovant, Inc. has a one year low of $24.61 and a one year high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the prior year, the business posted ($0.45) EPS. On average, sell-side analysts forecast that Immunovant, Inc. will post -2.73 earnings per share 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.