Vanguard Group Inc. boosted its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,679,414 shares of the company's stock after acquiring an additional 20,614 shares during the period. Vanguard Group Inc. owned 3.93% of Immunovant worth $165,449,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMVT. KBC Group NV grew 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Immunovant during the fourth quarter worth $268,000. Aigen Investment Management LP purchased a new position in Immunovant in the 4th quarter valued at $270,000. Teacher Retirement System of Texas increased its stake in Immunovant by 18.5% in the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock valued at $377,000 after buying an additional 2,373 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Immunovant during the 4th quarter worth $505,000. 47.08% of the stock is owned by hedge funds and other institutional investors.
Immunovant Trading Down 0.7 %
Shares of IMVT stock traded down $0.11 during mid-day trading on Friday, reaching $14.68. The stock had a trading volume of 1,862,077 shares, compared to its average volume of 1,190,097. The company has a market cap of $2.49 billion, a P/E ratio of -5.60 and a beta of 0.81. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47. The business has a 50-day simple moving average of $18.57 and a 200 day simple moving average of $24.06.
Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Research analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on IMVT. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 target price on shares of Immunovant in a report on Wednesday, March 19th. Bank of America lowered their price objective on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Wolfe Research downgraded Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Jefferies Financial Group began coverage on Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Immunovant currently has a consensus rating of "Buy" and a consensus target price of $41.00.
Get Our Latest Stock Analysis on IMVT
Insider Buying and Selling
In related news, Director Andrew J. Fromkin sold 8,000 shares of Immunovant stock in a transaction dated 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 sale, the director now owns 91,913 shares in the company, valued at approximately $1,801,494.80. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Salzmann sold 8,767 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total transaction of $208,917.61. Following the completion of the transaction, the chief executive officer now owns 964,225 shares in the company, valued at approximately $22,977,481.75. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,394 shares of company stock worth $956,666 in the last ninety days. Insiders own 5.90% of the company's stock.
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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