Rhumbline Advisers Boosts Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Rhumbline Advisers raised its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,932 shares of the company’s stock after purchasing an additional 1,188 shares during the quarter. Rhumbline Advisers owned 0.06% of Immunovant worth $2,005,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. KBC Group NV grew its holdings in Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares during the period. Assetmark Inc. lifted its stake in shares of Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after purchasing an additional 934 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Immunovant in the 3rd quarter worth approximately $427,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Immunovant during the 3rd quarter valued at about $517,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group began coverage on Immunovant in a report on Monday. They issued a “hold” rating and a $20.00 price target for the company. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research note on Thursday, January 30th. Guggenheim reduced their price objective on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Bank of America lowered their price target on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.55.

Insiders Place Their Bets

In related news, CEO Peter Salzmann sold 5,105 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the completion of the sale, the chief executive officer now directly owns 972,992 shares in the company, valued at approximately $23,449,107.20. This represents a 0.52 % 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, CTO Jay S. Stout sold 2,195 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the sale, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,510 shares of company stock worth $656,886. 5.90% of the stock is owned by insiders.

Immunovant Stock Down 10.5 %

Shares of IMVT opened at $18.44 on Tuesday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -7.04 and a beta of 0.65. Immunovant, Inc. has a 52-week low of $18.13 and a 52-week high of $35.97. The business’s 50 day moving average is $22.34 and its two-hundred day moving average is $26.81.

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

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.