Intech Investment Management LLC Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

Intech Investment Management LLC purchased a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,825 shares of the company’s stock, valued at approximately $622,000.

A number of other large investors also recently bought and sold shares of IMVT. KBC Group NV raised its position in shares of Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares during the period. Quest Partners LLC increased its stake in shares of Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after purchasing an additional 1,786 shares in the last quarter. Headlands Technologies LLC acquired a new position in Immunovant in the 2nd quarter worth about $77,000. Assetmark Inc. boosted its position in Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after buying an additional 934 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Immunovant

In other news, CFO Eva Renee Barnett sold 4,174 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $106,228.30. Following the transaction, the chief financial officer now directly owns 331,169 shares in the company, valued at approximately $8,428,251.05. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark S. Levine sold 3,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $92,892.50. Following the completion of the sale, the insider now owns 319,228 shares in the company, valued at $8,124,352.60. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,659 shares of company stock worth $2,096,890. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IMVT shares. Raymond James reiterated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. Oppenheimer lifted their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group reduced their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $48.10.

Immunovant Trading Down 1.8 %

Shares of IMVT opened at $28.20 on Friday. Immunovant, Inc. has a 12-month low of $24.61 and a 12-month high of $45.58. The stock has a market cap of $4.14 billion, a P/E ratio of -12.70 and a beta of 0.66. The company has a 50-day moving average of $28.95 and a two-hundred day moving average of $28.84.

Immunovant (NASDAQ:IMVT) last released its 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 period in the previous year, the firm posted ($0.45) earnings per share. As a group, analysts forecast that Immunovant, Inc. will post -2.7 EPS for the current fiscal 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.