2,961 Shares in Immunovant, Inc. (NASDAQ:IMVT) Acquired by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in shares of Immunovant, Inc. (NASDAQ:IMVT) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,961 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Immunovant by 21.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company’s stock worth $109,000 after purchasing an additional 1,037 shares during the period. Banque Pictet & Cie SA boosted its position in shares of Immunovant by 1.3% during the 1st quarter. Banque Pictet & Cie SA now owns 147,397 shares of the company’s stock worth $2,519,000 after purchasing an additional 1,917 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Immunovant during the 1st quarter worth approximately $34,000. MetLife Investment Management LLC boosted its position in shares of Immunovant by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 35,648 shares of the company’s stock worth $883,000 after purchasing an additional 2,040 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Immunovant by 3.2% during the 1st quarter. Rhumbline Advisers now owns 83,555 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,623 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling at Immunovant

In related news, insider Michael Geffner sold 2,385 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $43,287.75. Following the transaction, the insider owned 221,825 shares of the company’s stock, valued at $4,026,123.75. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Jay S. Stout sold 2,805 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total value of $50,910.75. Following the completion of the transaction, the chief technology officer directly owned 204,919 shares in the company, valued at $3,719,279.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,869 shares of company stock worth $140,384 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IMVT. JPMorgan Chase & Co. lowered their price objective on shares of Immunovant from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup restated a “buy” rating on shares of Immunovant in a research note on Monday. UBS Group boosted their price target on shares of Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Bank of America dropped their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group upgraded shares of Immunovant to a “hold” rating and set a $18.00 price target for the company in a research note on Thursday, July 10th. Three investment analysts have 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Immunovant Price Performance

NASDAQ:IMVT opened at $15.21 on Wednesday. The firm has a market capitalization of $2.60 billion, a PE ratio of -5.34 and a beta of 0.66. The business’s fifty day moving average price is $16.53 and its 200 day moving average price is $17.04. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, August 11th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.09. During the same period in the previous year, the business posted ($0.60) earnings per share. As a group, equities analysts anticipate that Immunovant, Inc. will post -2.69 EPS 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.