CoreCap Advisors LLC Has $270,000 Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

CoreCap Advisors LLC grew its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,407 shares of the company’s stock after acquiring an additional 647 shares during the quarter. CoreCap Advisors LLC’s holdings in Immunovant were worth $270,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank boosted its holdings in shares of Immunovant by 7.2% in the 1st quarter. Swiss National Bank now owns 95,100 shares of the company’s stock valued at $524,000 after buying an additional 6,400 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Immunovant by 205.6% in the 1st quarter. JPMorgan Chase & Co. now owns 461,582 shares of the company’s stock valued at $2,543,000 after buying an additional 310,520 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Immunovant by 423.9% in the 1st quarter. MetLife Investment Management LLC now owns 25,184 shares of the company’s stock valued at $139,000 after buying an additional 20,377 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Immunovant by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,353,866 shares of the company’s stock valued at $18,479,000 after buying an additional 28,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Immunovant by 148.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 690,965 shares of the company’s stock valued at $3,807,000 after buying an additional 412,997 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IMVT. Truist Financial reissued a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a report on Monday. Bank of America raised their price target on Immunovant from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, December 21st. UBS Group raised their price target on Immunovant from $55.00 to $56.00 and gave the company a “buy” rating in a report on Friday, December 1st. HC Wainwright raised their price target on Immunovant from $47.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Finally, The Goldman Sachs Group assumed coverage on Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target for the company. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and an average target price of $47.88.

Immunovant Trading Up 3.5 %

Shares of IMVT stock opened at $32.52 on Thursday. The business’s 50-day moving average price is $35.56 and its 200-day moving average price is $35.69. Immunovant, Inc. has a 12 month low of $14.05 and a 12 month high of $45.58. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -17.67 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. On average, sell-side analysts predict that Immunovant, Inc. will post -1.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $41.83, for a total value of $147,032.45. Following the transaction, the chief financial officer now directly owns 323,350 shares of the company’s stock, valued at $13,525,730.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Mark S. Levine sold 2,134 shares of Immunovant stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the transaction, the insider now directly owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $41.83, for a total value of $147,032.45. Following the completion of the transaction, the chief financial officer now directly owns 323,350 shares in the company, valued at $13,525,730.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,151 shares of company stock valued at $659,896. 4.80% of the stock is currently owned by corporate insiders.

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.