Allspring Global Investments Holdings LLC Acquires 36,659 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Allspring Global Investments Holdings LLC increased its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 590.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,865 shares of the company’s stock after acquiring an additional 36,659 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Immunovant were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IMVT. Barclays PLC boosted its stake in Immunovant by 2,558.1% in the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock valued at $43,000 after acquiring an additional 2,200 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Immunovant by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after purchasing an additional 1,651 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Immunovant during the third quarter valued at $230,000. Bailard Inc. purchased a new stake in Immunovant in the third quarter worth $242,000. Finally, CoreCap Advisors LLC raised its stake in shares of Immunovant by 11.2% in the fourth quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after buying an additional 647 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Transactions at Immunovant

In related news, CEO Peter Salzmann sold 34,079 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $990,335.74. Following the transaction, the chief executive officer now owns 1,052,879 shares of the company’s stock, valued at $30,596,663.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Mark S. Levine sold 3,027 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $37.92, for a total value of $114,783.84. Following the completion of the sale, the insider now owns 304,102 shares of the company’s stock, valued at approximately $11,531,547.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Salzmann sold 34,079 shares of Immunovant stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $990,335.74. Following the completion of the transaction, the chief executive officer now owns 1,052,879 shares in the company, valued at approximately $30,596,663.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,087 shares of company stock valued at $2,235,935. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

IMVT has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target for the company. Wolfe Research initiated coverage on shares of Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Oppenheimer began coverage on shares of Immunovant in a research note on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Truist Financial restated a “buy” rating and set a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.00.

Immunovant Trading Up 1.8 %

Shares of IMVT opened at $28.74 on Tuesday. The stock has a 50-day moving average price of $32.84 and a 200-day moving average price of $36.02. The company has a market cap of $4.18 billion, a PE ratio of -15.62 and a beta of 0.65. Immunovant, Inc. has a 12-month low of $15.39 and a 12-month high of $45.58.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. As a group, analysts predict that Immunovant, Inc. will post -1.7 earnings per share for the current year.

Immunovant Company 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.