Immunovant, Inc. (NASDAQ:IMVT) Position Boosted by abrdn plc

abrdn plc boosted its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 19.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,757 shares of the company's stock after acquiring an additional 78,035 shares during the period. abrdn plc owned 0.33% of Immunovant worth $13,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its holdings in shares of Immunovant by 198.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company's stock worth $8,224,000 after acquiring an additional 207,003 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunovant by 98.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,788 shares of the company's stock worth $2,319,000 after purchasing an additional 35,589 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company's stock valued at $60,163,000 after purchasing an additional 259,481 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Immunovant in the 2nd quarter valued at approximately $1,548,000. Finally, Vanguard Group Inc. increased its holdings in shares of Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company's stock worth $209,314,000 after buying an additional 650,506 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Immunovant Trading Up 0.4 %

Shares of Immunovant stock traded up $0.13 on Friday, reaching $29.39. 656,844 shares of the stock were exchanged, compared to its average volume of 664,213. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58. The business has a fifty day moving average price of $29.87 and a two-hundred day moving average price of $28.91.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same period in the prior year, the firm posted ($0.57) EPS. As a group, equities research analysts anticipate that Immunovant, Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 5,162 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the transaction, the chief financial officer now owns 338,614 shares of the company's stock, valued at approximately $10,009,429.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Eva Renee Barnett sold 5,162 shares of Immunovant stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $152,588.72. Following the completion of the sale, the chief financial officer now owns 338,614 shares of the company's stock, valued at $10,009,429.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jay S. Stout sold 2,740 shares of Immunovant stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total value of $80,912.20. Following the completion of the sale, the chief technology officer now owns 142,186 shares of the company's stock, valued at $4,198,752.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,277 shares of company stock valued at $941,919 over the last quarter. Corporate insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IMVT. UBS Group decreased their price objective on Immunovant from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on Immunovant from $51.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. HC Wainwright reissued a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research report on Monday, September 30th. Raymond James reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunovant in a research note on Monday, September 9th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $48.10.

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.