Zurcher Kantonalbank Zurich Cantonalbank Acquires 951 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,370 shares of the company’s stock after buying an additional 951 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Immunovant were worth $437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in Immunovant by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after buying an additional 1,651 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Immunovant during the 3rd quarter valued at approximately $230,000. Allspring Global Investments Holdings LLC increased its holdings in Immunovant by 56.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company’s stock worth $238,000 after acquiring an additional 2,228 shares in the last quarter. Bailard Inc. bought a new stake in Immunovant during the 3rd quarter worth approximately $242,000. Finally, CoreCap Advisors LLC lifted its holdings in Immunovant by 11.2% during the fourth quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after purchasing an additional 647 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Stock Performance

Shares of NASDAQ IMVT opened at $28.86 on Friday. Immunovant, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $45.58. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -15.68 and a beta of 0.70. The business’s 50 day moving average price is $31.40 and its 200-day moving average price is $35.56.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Sell-side analysts predict that Immunovant, Inc. will post -1.7 earnings per share for the current year.

Insider Transactions at Immunovant

In related news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the sale, the insider now owns 141,616 shares in the company, valued at approximately $4,092,702.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Immunovant news, CTO Jay S. Stout sold 7,239 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $209,207.10. Following the completion of the sale, the chief technology officer now directly owns 147,739 shares in the company, valued at approximately $4,269,657.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Geffner sold 3,261 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $94,242.90. Following the transaction, the insider now owns 141,616 shares in the company, valued at approximately $4,092,702.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,560 shares of company stock worth $2,424,601. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMVT. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Truist Financial reissued a “buy” rating and issued a $48.00 target price on shares of Immunovant in a report on Monday, March 25th. Wolfe Research started coverage on shares of Immunovant in a research note on Thursday, February 15th. They set an “outperform” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 target price on the stock. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $48.00.

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.