Knights of Columbus Asset Advisors LLC Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

Knights of Columbus Asset Advisors LLC acquired a new position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 24,873 shares of the company's stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sei Investments Co. grew its holdings in shares of Immunovant by 4.0% in the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after acquiring an additional 1,541 shares during the last quarter. 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 worth $377,000 after purchasing an additional 2,373 shares in the last quarter. Platinum Investment Management Ltd. raised its holdings in Immunovant by 5.2% during the 4th quarter. Platinum Investment Management Ltd. now owns 202,323 shares of the company's stock worth $5,012,000 after buying an additional 10,081 shares during the period. Intech Investment Management LLC raised its holdings in Immunovant by 44.1% during the 4th quarter. Intech Investment Management LLC now owns 31,439 shares of the company's stock worth $779,000 after buying an additional 9,614 shares during the period. Finally, Swiss National Bank lifted its stake in Immunovant by 1.2% during the fourth quarter. Swiss National Bank now owns 100,800 shares of the company's stock valued at $2,497,000 after buying an additional 1,200 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

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Immunovant Stock Up 5.0 %

Shares of IMVT traded up $0.90 during midday trading on Thursday, reaching $18.79. 1,145,877 shares of the stock were exchanged, compared to its average volume of 1,089,484. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -7.17 and a beta of 0.68. The firm has a 50 day simple moving average of $20.57 and a 200-day simple moving average of $25.38. Immunovant, Inc. has a 12-month low of $17.01 and a 12-month high of $34.47.

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

Insider Buying and Selling

In other news, CTO Jay S. Stout sold 2,195 shares of the company's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the completion of the sale, the chief technology officer now owns 139,991 shares in the company, valued at approximately $3,302,387.69. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew J. Fromkin sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares in the company, valued at $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,510 shares of company stock worth $813,686. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

IMVT has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Wells Fargo & Company reduced their target price on Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Bank of America lowered their price target on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Finally, Wolfe Research downgraded Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $41.00.

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.