Immunovant, Inc. (NASDAQ:IMVT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 69.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 951,124 shares of the company's stock after buying an additional 391,436 shares during the quarter. Principal Financial Group Inc. owned approximately 0.65% of Immunovant worth $27,117,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Tyro Capital Management LLC grew its position in shares of Immunovant by 0.6% in the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Immunovant by 6.9% during the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company's stock worth $43,085,000 after purchasing an additional 96,924 shares during the last quarter. State Street Corp increased its position in shares of Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company's stock worth $86,167,000 after purchasing an additional 303,386 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Immunovant by 163.7% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company's stock valued at $34,936,000 after purchasing an additional 760,692 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Immunovant in the 3rd quarter valued at about $1,471,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Insider Buying and Selling at Immunovant

In related news, CFO Eva Renee Barnett sold 4,174 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $106,228.30. Following the sale, the chief financial officer now directly owns 331,169 shares in the company, valued at $8,428,251.05. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark S. Levine sold 3,650 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $92,892.50. Following the completion of the sale, the insider now directly owns 319,228 shares in the company, valued at approximately $8,124,352.60. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,659 shares of company stock valued at $2,096,890. Corporate insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on IMVT. Raymond James reaffirmed an "outperform" rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunovant in a research report on Monday, September 9th. Oppenheimer upped their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 price target on shares of Immunovant in a report on Friday, November 8th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $47.22.

Immunovant Stock Up 1.2 %

IMVT stock traded up $0.32 on Wednesday, reaching $26.08. 908,488 shares of the company's stock were exchanged, compared to its average volume of 1,068,167. The stock has a fifty day moving average of $28.40 and a 200-day moving average of $28.77. The firm has a market cap of $3.83 billion, a PE ratio of -11.75 and a beta of 0.64. Immunovant, Inc. has a twelve month low of $24.61 and a twelve month high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.15). During the same period last year, the business earned ($0.45) EPS. On average, equities research analysts predict that Immunovant, Inc. will post -2.73 EPS for the current fiscal year.

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.