Connor Clark & Lunn Investment Management Ltd. boosted its position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,884 shares of the company's stock after purchasing an additional 54,085 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of Immunovant worth $5,843,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of IMVT. 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 valued at $55,000 after buying an additional 612 shares during the last quarter. Assetmark Inc. raised its stake in shares of Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company's stock worth $82,000 after purchasing an additional 1,228 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Immunovant during the fourth quarter valued at approximately $270,000. Advantage Alpha Capital Partners LP purchased a new stake in shares of Immunovant during the third quarter valued at approximately $427,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Immunovant during the third quarter valued at approximately $517,000. Institutional investors and hedge funds own 47.08% of the company's stock.
Insider Buying and Selling at Immunovant
In other Immunovant news, 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 transaction of $156,800.00. Following the completion of the transaction, the director now owns 91,913 shares of the company's stock, valued at $1,801,494.80. This represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Salzmann sold 5,105 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the transaction, the chief executive officer now directly owns 972,992 shares of the company's stock, valued at $23,449,107.20. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,510 shares of company stock valued at $813,686 in the last 90 days. Insiders own 5.90% of the company's stock.
Immunovant Price Performance
NASDAQ IMVT traded up $0.09 during trading hours on Wednesday, reaching $18.88. 9,230,261 shares of the stock traded hands, compared to its average volume of 1,380,428. The stock has a 50 day simple moving average of $21.12 and a two-hundred day simple moving average of $25.88. Immunovant, Inc. has a 1 year low of $17.01 and a 1 year high of $35.97. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -7.21 and a beta of 0.68.
Immunovant (NASDAQ:IMVT - Get Free Report) last released its 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). On average, sell-side analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on IMVT shares. Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price target on shares of Immunovant in a report on Wednesday. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Monday, March 10th. Finally, Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $42.90.
View Our Latest Analysis on Immunovant
About Immunovant
(
Free Report)
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.
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