Algert Global LLC Grows Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

Algert Global LLC raised its position in Immunovant, Inc. (NASDAQ:IMVT) by 134.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,938 shares of the company’s stock after buying an additional 69,278 shares during the quarter. Algert Global LLC owned about 0.08% of Immunovant worth $3,193,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS Group AG boosted its position in Immunovant by 82.9% during the fourth quarter. UBS Group AG now owns 155,082 shares of the company’s stock worth $6,534,000 after purchasing an additional 70,285 shares during the period. TD Asset Management Inc grew its stake in Immunovant by 112.5% in the 4th quarter. TD Asset Management Inc now owns 66,308 shares of the company’s stock valued at $2,794,000 after buying an additional 35,108 shares in the last quarter. Capital Research Global Investors raised its holdings in Immunovant by 30.2% during the 4th quarter. Capital Research Global Investors now owns 976,237 shares of the company’s stock valued at $41,129,000 after acquiring an additional 226,237 shares during the period. Tyro Capital Management LLC purchased a new stake in shares of Immunovant during the fourth quarter worth $1,896,000. Finally, Seven Eight Capital LP lifted its position in shares of Immunovant by 117.2% during the fourth quarter. Seven Eight Capital LP now owns 98,606 shares of the company’s stock worth $4,154,000 after acquiring an additional 53,200 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Jay S. Stout sold 2,813 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $78,088.88. Following the completion of the sale, the chief technology officer now owns 144,926 shares of the company’s stock, valued at approximately $4,023,145.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Immunovant news, CFO Eva Renee Barnett sold 4,747 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total value of $133,200.82. Following the completion of the sale, the chief financial officer now owns 350,667 shares in the company, valued at $9,839,716.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jay S. Stout sold 2,813 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 approximately $4,023,145.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,475 shares of company stock valued at $904,638. 5.90% of the stock is currently owned by corporate insiders.

Immunovant Stock Down 0.2 %

IMVT opened at $28.45 on Wednesday. The business’s fifty day simple moving average is $29.75 and its 200 day simple moving average is $29.14. Immunovant, Inc. has a 52 week low of $24.67 and a 52 week high of $45.58. The stock has a market cap of $4.16 billion, a PE ratio of -14.97 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter in the previous year, the company posted ($0.57) earnings per share. As a group, equities analysts anticipate that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Monday. UBS Group reduced their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $49.09.

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.