Two Seas Capital LP Buys 835,000 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Two Seas Capital LP increased its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 123.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,511,614 shares of the company's stock after purchasing an additional 835,000 shares during the period. Immunovant accounts for about 3.2% of Two Seas Capital LP's holdings, making the stock its 10th biggest holding. Two Seas Capital LP owned approximately 0.89% of Immunovant worth $37,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Tyro Capital Management LLC increased its stake in Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after buying an additional 1,529 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Immunovant by 69.9% in the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock worth $27,117,000 after acquiring an additional 391,436 shares in the last quarter. KBC Group NV boosted its holdings in Immunovant by 60.1% in the fourth 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 during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Immunovant by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company's stock valued at $771,000 after purchasing an additional 2,973 shares in the last quarter. Finally, abrdn plc raised its position in shares of Immunovant by 11.1% in the 4th quarter. abrdn plc now owns 532,110 shares of the company's stock valued at $13,180,000 after purchasing an additional 53,353 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IMVT has been the subject of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target for the company. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. UBS Group reissued a "neutral" rating and issued a $17.00 price objective (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Immunovant currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Trading Up 4.8 %

IMVT traded up $0.70 during trading on Monday, reaching $15.42. 1,444,804 shares of the company were exchanged, compared to its average volume of 1,200,392. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47. The firm has a 50 day moving average of $17.50 and a 200 day moving average of $23.02. The stock has a market cap of $2.62 billion, a P/E ratio of -5.89 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its quarterly earnings data 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, analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In related news, Director Andrew J. Fromkin sold 8,000 shares of the firm'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 value of $156,800.00. Following the sale, the director now directly owns 91,913 shares in the company, valued at $1,801,494.80. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Salzmann sold 28,094 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 1,186,512 shares of the company's stock, valued at $15,412,790.88. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,682 shares of company stock worth $753,419. 5.90% of the stock is owned by company insiders.

Immunovant 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.