Immunovant, Inc. (NASDAQ:IMVT) Shares Acquired by Fmr LLC

FMR LLC raised its holdings in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,097,915 shares of the company's stock after acquiring an additional 560,344 shares during the quarter. FMR LLC owned approximately 7.71% of Immunovant worth $324,435,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV grew its stake in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. Rhumbline Advisers grew its position in shares of Immunovant by 1.5% during the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after buying an additional 1,188 shares in the last quarter. Swiss National Bank grew its position in shares of 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 in the last quarter. Tyro Capital Management LLC increased its stake in shares of Immunovant by 0.6% during the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock valued at $7,189,000 after buying an additional 1,529 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Immunovant by 4.0% in the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock valued at $1,002,000 after acquiring an additional 1,541 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have issued reports on IMVT. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Bank of America reduced their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Finally, Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Immunovant presently has a consensus rating of "Buy" and an average target price of $41.00.

Immunovant Trading Down 1.1 %

Shares of IMVT stock traded down $0.18 during trading hours on Tuesday, reaching $15.26. 527,542 shares of the company's stock were exchanged, compared to its average volume of 1,186,417. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47. The stock has a market cap of $2.59 billion, a PE ratio of -5.85 and a beta of 0.81. The stock's fifty day moving average price is $18.43 and its two-hundred day moving average price is $23.95.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). On average, equities analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insider Activity

In other news, CTO Jay S. Stout sold 2,195 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the completion of the transaction, the chief technology officer now directly owns 139,991 shares in the company, valued at $3,302,387.69. This trade represents a 1.54 % 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 28,094 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the sale, the chief executive officer now owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,394 shares of company stock valued at $956,666 over the last ninety days. 5.90% of the stock is currently owned by insiders.

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.