Charles Schwab Investment Management Inc. Increases Position in Immunovant, Inc. (NASDAQ:IMVT)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 19.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 552,430 shares of the company’s stock after acquiring an additional 91,259 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.38% of Immunovant worth $15,750,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in Immunovant by 198.0% in the 2nd 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 during the period. Victory Capital Management Inc. grew its position in Immunovant by 7.4% during the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after buying an additional 22,990 shares during the period. Rubric Capital Management LP bought a new position in Immunovant during the second quarter valued at about $1,548,000. First Turn Management LLC grew its position in Immunovant by 35.6% during the second quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after buying an additional 182,535 shares during the period. Finally, Principal Financial Group Inc. grew 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 buying an additional 391,436 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Mark S. Levine sold 3,650 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 transaction of $92,892.50. Following the completion of the sale, the insider now owns 319,228 shares in the company, valued at approximately $8,124,352.60. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter Salzmann sold 16,692 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40. Following the completion of the transaction, the chief executive officer now 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 77,659 shares of company stock worth $2,096,890 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Immunovant Stock Up 0.8 %

Shares of NASDAQ IMVT opened at $28.62 on Friday. The company has a market cap of $4.20 billion, a P/E ratio of -12.89 and a beta of 0.64. Immunovant, Inc. has a 52 week low of $24.61 and a 52 week high of $45.58. The business has a 50-day simple moving average of $28.96 and a two-hundred day simple moving average of $28.76.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the firm earned ($0.45) EPS. Equities research analysts anticipate that Immunovant, Inc. will post -2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Raymond James restated an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. UBS Group reduced their price target on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Finally, Oppenheimer increased their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Immunovant has a consensus rating of “Buy” and a consensus price target of $48.10.

Immunovant 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.