PEAK6 Investments LLC Has $456,000 Stake in Immunovant, Inc. (NASDAQ:IMVT)

PEAK6 Investments LLC trimmed its stake in Immunovant, Inc. (NASDAQ:IMVT) by 23.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,001 shares of the company’s stock after selling 4,986 shares during the quarter. PEAK6 Investments LLC’s holdings in Immunovant were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. FMR LLC boosted its stake in shares of Immunovant by 19.6% during the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after buying an additional 2,053,688 shares during the period. Armistice Capital LLC raised its holdings in shares of Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after acquiring an additional 1,232,909 shares in the last quarter. Principal Financial Group Inc. boosted its position in Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after purchasing an additional 391,436 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Immunovant by 198.0% in the second quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after purchasing an additional 207,003 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Immunovant in the 2nd quarter worth about $5,275,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Price Performance

Immunovant stock opened at $28.22 on Wednesday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -12.71 and a beta of 0.64. The firm has a fifty day moving average price of $28.95 and a two-hundred day moving average price of $28.79. Immunovant, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data 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. As a group, sell-side analysts expect that Immunovant, Inc. will post -2.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IMVT shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Friday, November 8th. UBS Group dropped their price target on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Raymond James reissued an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Eleven research 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 $48.10.

Insider Transactions at Immunovant

In other news, CFO Eva Renee Barnett sold 5,162 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were 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 represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Salzmann sold 16,692 shares of Immunovant stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $424,811.40. Following the sale, the chief executive officer now directly owns 978,097 shares in the company, valued at approximately $24,892,568.65. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,659 shares of company stock worth $2,096,890 over the last three months. 5.90% of the stock is currently owned by insiders.

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.