Intech Investment Management LLC Buys Shares of 21,825 Immunovant, Inc. (NASDAQ:IMVT)

Intech Investment Management LLC purchased a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,825 shares of the company's stock, valued at approximately $622,000.

Other large investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Immunovant during the 3rd quarter valued at approximately $517,000. KBC Group NV grew its holdings in shares of Immunovant by 46.2% during the third 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. Victory Capital Management Inc. increased its position in shares of Immunovant by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company's stock valued at $9,561,000 after acquiring an additional 22,990 shares during the period. GSA Capital Partners LLP increased its position in shares of Immunovant by 66.2% in the 3rd quarter. GSA Capital Partners LLP now owns 24,634 shares of the company's stock valued at $702,000 after acquiring an additional 9,810 shares during the period. Finally, Assetmark Inc. raised its stake in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company's stock worth $82,000 after acquiring an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

IMVT has been the topic of a number of research reports. Oppenheimer increased their price objective on Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. UBS Group reduced their price target on shares of Immunovant from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Raymond James reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Immunovant from $51.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Immunovant in a research report on Monday, September 9th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $48.10.

Insiders Place Their Bets

In other news, insider William L. Macias sold 3,188 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $91,782.52. Following the transaction, the insider now owns 365,144 shares in the company, valued at $10,512,495.76. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark S. Levine sold 4,361 shares of Immunovant stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total value of $128,780.33. Following the completion of the sale, the insider now directly owns 322,878 shares in the company, valued at $9,534,587.34. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,659 shares of company stock worth $2,096,890. Company insiders own 5.90% of the company's stock.

Immunovant Stock Down 1.8 %

Shares of IMVT stock traded down $0.53 during mid-day trading on Friday, hitting $28.20. 382,925 shares of the stock were exchanged, compared to its average volume of 887,449. The company has a market cap of $4.14 billion, a PE ratio of -12.70 and a beta of 0.66. The firm has a fifty day moving average of $28.95 and a 200 day moving average of $28.84. Immunovant, Inc. has a 52-week low of $24.61 and a 52-week high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period last year, the business earned ($0.45) earnings per share. Equities analysts predict that Immunovant, Inc. will post -2.7 EPS for the current year.

About Immunovant

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.