UBS Group AG Grows Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

UBS Group AG grew its position in shares of Immunovant, Inc. (NASDAQ:IMVTFree Report) by 82.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,082 shares of the company’s stock after buying an additional 70,285 shares during the period. UBS Group AG owned 0.11% of Immunovant worth $6,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IMVT. Headlands Technologies LLC bought a new position in Immunovant during the fourth quarter worth about $27,000. Los Angeles Capital Management LLC bought a new position in Immunovant in the 4th quarter worth approximately $212,000. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Immunovant in the 3rd quarter valued at approximately $230,000. CoreCap Advisors LLC raised its holdings in Immunovant by 11.2% during the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock valued at $270,000 after acquiring an additional 647 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Immunovant during the third quarter worth $257,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IMVT has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price objective on the stock. Wolfe Research started coverage on shares of Immunovant in a research report on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price objective for the company. Oppenheimer decreased their target price on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. started coverage on shares of Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price target on the stock. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant presently has an average rating of “Buy” and an average price target of $48.75.

View Our Latest Stock Analysis on IMVT

Insider Buying and Selling

In other Immunovant news, CFO Eva Renee Barnett sold 4,042 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total value of $119,845.30. Following the completion of the sale, the chief financial officer now owns 355,414 shares in the company, valued at $10,538,025.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Immunovant news, CFO Eva Renee Barnett sold 4,042 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total value of $119,845.30. Following the transaction, the chief financial officer now owns 355,414 shares in the company, valued at $10,538,025.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26. Following the sale, the chief executive officer now owns 1,086,958 shares of the company’s stock, valued at $33,891,350.44. The disclosure for this sale can be found here. Insiders have sold a total of 99,948 shares of company stock worth $2,936,889 in the last ninety days. 4.80% of the stock is owned by insiders.

Immunovant Stock Performance

Shares of IMVT opened at $25.60 on Thursday. Immunovant, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $45.58. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -13.47 and a beta of 0.67. The firm has a 50 day moving average price of $29.31 and a 200-day moving average price of $34.67.

Immunovant (NASDAQ:IMVTGet Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same period last year, the company earned ($0.46) EPS. As a group, equities research analysts predict that Immunovant, Inc. will post -2.02 earnings per share for the current year.

Immunovant Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Immunovant (NASDAQ:IMVT)

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