Scientech Research LLC Buys New Shares in Immunovant, Inc. (NASDAQ:IMVT)

Scientech Research LLC bought a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 12,634 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors also recently modified their holdings of IMVT. UBS Group AG lifted its position in shares of Immunovant by 82.9% during the 4th quarter. UBS Group AG now owns 155,082 shares of the company’s stock valued at $6,534,000 after acquiring an additional 70,285 shares during the period. TD Asset Management Inc lifted its position in shares of Immunovant by 112.5% during the 4th quarter. TD Asset Management Inc now owns 66,308 shares of the company’s stock valued at $2,794,000 after acquiring an additional 35,108 shares during the period. Affinity Asset Advisors LLC lifted its position in shares of Immunovant by 100.7% during the 4th quarter. Affinity Asset Advisors LLC now owns 345,000 shares of the company’s stock valued at $14,535,000 after acquiring an additional 173,100 shares during the period. Armistice Capital LLC raised its holdings in Immunovant by 38.6% during the fourth quarter. Armistice Capital LLC now owns 1,436,000 shares of the company’s stock worth $60,499,000 after buying an additional 400,123 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Immunovant by 30.2% during the fourth quarter. Capital Research Global Investors now owns 976,237 shares of the company’s stock worth $41,129,000 after buying an additional 226,237 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Stock Performance

IMVT opened at $28.51 on Tuesday. The firm has a market cap of $4.17 billion, a P/E ratio of -15.01 and a beta of 0.67. The firm has a 50-day moving average of $29.74 and a 200 day moving average of $29.16. Immunovant, Inc. has a fifty-two week low of $24.67 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter in the prior year, the company posted ($0.57) EPS. Equities research analysts predict that Immunovant, Inc. will post -2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IMVT shares. UBS Group lowered their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Oppenheimer lowered their price objective on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a report on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $49.09.

Insider Activity at Immunovant

In related news, CTO Jay S. Stout sold 2,813 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $78,088.88. Following the completion of the transaction, the chief technology officer now owns 144,926 shares in the company, valued at $4,023,145.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Immunovant news, CTO Jay S. Stout sold 2,813 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $78,088.88. Following the completion of the transaction, the chief technology officer now owns 144,926 shares in the company, valued at $4,023,145.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Salzmann sold 4,619 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $129,609.14. Following the transaction, the chief executive officer now owns 1,032,097 shares of the company’s stock, valued at approximately $28,960,641.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,475 shares of company stock worth $904,638. 5.90% of the stock is owned by company insiders.

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.