New York State Common Retirement Fund Acquires 9,020 Shares of Immunovant, Inc. (NASDAQ:IMVT)

New York State Common Retirement Fund increased its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 30.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,931 shares of the company’s stock after acquiring an additional 9,020 shares during the quarter. New York State Common Retirement Fund’s holdings in Immunovant were worth $1,640,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its stake in Immunovant by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after acquiring an additional 1,651 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Immunovant in the 3rd quarter valued at about $230,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Immunovant by 56.0% in the third 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 during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Immunovant during the third quarter worth $257,000. Finally, CoreCap Advisors LLC grew its position in shares of Immunovant by 11.2% in 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 institutional investors and hedge funds.

Immunovant Stock Down 0.2 %

IMVT opened at $29.70 on Friday. The firm has a market capitalization of $4.32 billion, a P/E ratio of -16.14 and a beta of 0.70. The stock has a fifty day moving average of $30.73 and a 200-day moving average of $35.35. Immunovant, Inc. has a 12-month low of $17.53 and a 12-month high of $45.58.

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

Analyst Ratings Changes

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

Insider Activity at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $149,882.26. Following the completion of the sale, the chief executive officer now owns 1,086,958 shares in the company, valued at approximately $33,891,350.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Mark S. Levine sold 2,134 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $77,144.10. Following the transaction, the insider now owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter Salzmann sold 4,807 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the transaction, the chief executive officer now owns 1,086,958 shares in the company, valued at approximately $33,891,350.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,560 shares of company stock valued at $2,424,601. Corporate insiders own 4.80% of the company’s stock.

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.