Allspring Global Investments Holdings LLC boosted its holdings in Immunovant, Inc. (NASDAQ:IMVT – Free Report) by 206.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,978 shares of the company’s stock after acquiring an additional 2,682 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Immunovant were worth $75,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IMVT. FMR LLC increased its holdings in shares of Immunovant by 66.7% in the 1st quarter. FMR LLC now owns 4,146,969 shares of the company’s stock valued at $64,319,000 after purchasing an additional 1,658,836 shares in the last quarter. Federated Hermes Inc. increased its holdings in Immunovant by 281.2% in the first quarter. Federated Hermes Inc. now owns 1,903,894 shares of the company’s stock valued at $10,491,000 after buying an additional 1,404,404 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Immunovant by 761.2% during the 1st quarter. Perceptive Advisors LLC now owns 1,291,858 shares of the company’s stock valued at $20,037,000 after acquiring an additional 1,141,858 shares during the period. State Street Corp lifted its position in shares of Immunovant by 27.5% during the 1st quarter. State Street Corp now owns 3,967,605 shares of the company’s stock valued at $61,538,000 after acquiring an additional 854,662 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in shares of Immunovant during the 1st quarter worth approximately $10,326,000. Institutional investors and hedge funds own 42.45% of the company’s stock.
Insider Buying and Selling at Immunovant
In other news, CFO Eva Renee Barnett sold 14,386 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $20.30, for a total transaction of $292,035.80. Following the completion of the sale, the chief financial officer now directly owns 335,477 shares of the company’s stock, valued at approximately $6,810,183.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sciences Ltd. Roivant acquired 1,526,316 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were purchased at an average price of $38.00 per share, for a total transaction of $58,000,008.00. Following the acquisition, the director now directly owns 79,805,331 shares of the company’s stock, valued at approximately $3,032,602,578. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva Renee Barnett sold 14,386 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $20.30, for a total value of $292,035.80. Following the sale, the chief financial officer now owns 335,477 shares of the company’s stock, valued at approximately $6,810,183.10. The disclosure for this sale can be found here. Insiders have sold a total of 99,614 shares of company stock worth $2,374,440 in the last quarter. 4.80% of the stock is owned by insiders.
Immunovant Trading Down 1.5 %
Immunovant (NASDAQ:IMVT – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.45) earnings per share for the quarter, hitting the consensus estimate of ($0.45). Equities analysts predict that Immunovant, Inc. will post -1.85 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on IMVT. Raymond James upgraded Immunovant from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Tuesday, September 26th. Wells Fargo & Company raised their target price on shares of Immunovant from $33.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, September 27th. UBS Group raised shares of Immunovant from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $55.00 in a report on Friday, October 13th. Truist Financial raised their price objective on shares of Immunovant from $30.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler upped their target price on Immunovant from $28.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $42.54.
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 selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.
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