Immunovant, Inc. (NASDAQ:IMVT) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,679,414 shares of the company’s stock after buying an additional 20,614 shares during the period. Vanguard Group Inc.’s holdings in Immunovant were worth $165,449,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. KBC Group NV boosted its stake in Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Immunovant during the 4th quarter worth about $268,000. Aigen Investment Management LP acquired a new stake in shares of Immunovant in the fourth quarter worth approximately $270,000. Teacher Retirement System of Texas grew its holdings in Immunovant by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock valued at $377,000 after purchasing an additional 2,373 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Immunovant during the fourth quarter worth approximately $505,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price on the stock. Wells Fargo & Company reduced their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Guggenheim restated a “buy” rating on shares of Immunovant in a report on Thursday, March 20th. Finally, Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Immunovant has a consensus rating of “Buy” and an average price target of $41.00.

Immunovant Stock Performance

IMVT stock opened at $14.58 on Monday. The firm has a market cap of $2.48 billion, a P/E ratio of -5.56 and a beta of 0.81. Immunovant, Inc. has a 1 year low of $14.16 and a 1 year high of $34.47. The stock has a 50-day simple moving average of $19.60 and a 200-day simple moving average of $24.71.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, equities research analysts predict that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Activity at Immunovant

In related news, insider William L. Macias sold 2,383 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the completion of the transaction, the insider now owns 359,408 shares of the company’s stock, valued at approximately $8,564,692.64. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Geffner sold 2,657 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total value of $62,678.63. Following the sale, the insider now owns 132,314 shares of the company’s stock, valued at approximately $3,121,287.26. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,510 shares of company stock valued at $813,686. Corporate insiders own 5.90% of the company’s stock.

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.