Immunovant, Inc. (NASDAQ:IMVT) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its stake in shares of Immunovant, Inc. (NASDAQ:IMVTFree Report) by 112.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,308 shares of the company’s stock after purchasing an additional 35,108 shares during the period. TD Asset Management Inc’s holdings in Immunovant were worth $2,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMVT. FMR LLC raised its holdings in shares of Immunovant by 47.5% in the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock worth $297,467,000 after acquiring an additional 2,494,678 shares during the last quarter. Fred Alger Management LLC raised its stake in Immunovant by 6,108.9% in the 3rd quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock valued at $45,532,000 after purchasing an additional 1,166,929 shares during the last quarter. Armistice Capital LLC acquired a new position in Immunovant in the 3rd quarter valued at about $39,767,000. Vanguard Group Inc. lifted its holdings in Immunovant by 14.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after purchasing an additional 764,530 shares in the last quarter. Finally, Rock Springs Capital Management LP acquired a new stake in shares of Immunovant during the 3rd quarter worth about $24,736,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Activity

In related news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the sale, the insider now owns 141,616 shares of the company’s stock, valued at approximately $4,092,702.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Immunovant news, insider Michael Geffner sold 3,261 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was 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 legal filing with the SEC, which is available through the SEC website. Also, insider Julia G. Butchko sold 1,053 shares of Immunovant stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total value of $32,832.54. Following the sale, the insider now owns 461,742 shares in the company, valued at $14,397,115.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,948 shares of company stock worth $2,936,889. 4.80% of the stock is currently owned by company insiders.

Immunovant Price Performance

NASDAQ:IMVT opened at $25.17 on Friday. Immunovant, Inc. has a 12 month low of $18.16 and a 12 month high of $45.58. The business’s 50-day moving average is $29.03 and its two-hundred day moving average is $34.55. The firm has a market capitalization of $3.68 billion, a PE ratio of -13.25 and a beta of 0.67.

Immunovant (NASDAQ:IMVTGet Free Report) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same period in the previous year, the business earned ($0.46) earnings per share. Equities analysts anticipate that Immunovant, Inc. will post -2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IMVT shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Thursday, May 30th. The Goldman Sachs Group started coverage on Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price objective on the stock. Wolfe Research started coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price on the stock. Finally, Oppenheimer lowered their price target on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant currently has a consensus rating of “Buy” and a consensus target price of $48.75.

Get Our Latest Stock Analysis on Immunovant

About Immunovant

(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.

Further Reading

Institutional Ownership by Quarter for Immunovant (NASDAQ:IMVT)

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