KBC Group NV Purchases 612 Shares of Immunovant, Inc. (NASDAQ:IMVT)

KBC Group NV lifted its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 46.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,936 shares of the company’s stock after purchasing an additional 612 shares during the period. KBC Group NV’s holdings in Immunovant were worth $55,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Armistice Capital LLC boosted its stake in shares of Immunovant by 57.0% during the 2nd 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 during the last quarter. Vanguard Group Inc. raised its holdings in Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares during the period. Principal Financial Group Inc. lifted 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Immunovant by 16.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after purchasing an additional 259,481 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Immunovant by 198.0% in the second quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock worth $8,224,000 after buying an additional 207,003 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

IMVT has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. 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. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Finally, UBS Group lowered their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant currently has an average rating of “Buy” and a consensus price target of $48.10.

Immunovant Stock Up 1.2 %

Shares of Immunovant stock opened at $26.87 on Friday. Immunovant, Inc. has a twelve month low of $24.61 and a twelve month high of $45.58. The business has a 50-day moving average price of $29.08 and a 200-day moving average price of $28.90. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -12.10 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results 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 quarter last year, the firm posted ($0.45) earnings per share. On average, equities analysts expect that Immunovant, Inc. will post -2.7 EPS for the current fiscal year.

Insider Activity at Immunovant

In related news, CFO Eva Renee Barnett sold 5,162 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value 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 trade represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Salzmann sold 4,460 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $131,837.60. Following the sale, the chief executive officer now directly owns 1,003,884 shares in the company, valued at $29,674,811.04. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,659 shares of company stock valued at $2,096,890. 5.90% of the stock is owned by corporate insiders.

About Immunovant

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.