Raymond James Financial Inc. Buys Shares of 20,382 Immunovant, Inc. (NASDAQ:IMVT)

Raymond James Financial Inc. acquired a new position in shares of Immunovant, Inc. (NASDAQ:IMVT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,382 shares of the company’s stock, valued at approximately $505,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Immunovant by 4.5% in the fourth quarter. FMR LLC now owns 13,097,915 shares of the company’s stock valued at $324,435,000 after purchasing an additional 560,344 shares during the period. Wells Fargo & Company MN grew its position in shares of Immunovant by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 28,063 shares of the company’s stock worth $695,000 after acquiring an additional 9,349 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Immunovant in the fourth quarter valued at approximately $724,000. Geode Capital Management LLC grew its stake in shares of Immunovant by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,515,020 shares of the company’s stock worth $37,536,000 after purchasing an additional 4,094 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Immunovant by 5.9% during the 4th quarter. Alliancebernstein L.P. now owns 74,850 shares of the company’s stock worth $1,854,000 after buying an additional 4,200 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Price Performance

Immunovant stock opened at $14.30 on Friday. The firm has a 50-day moving average of $16.57 and a 200-day moving average of $22.22. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -5.46 and a beta of 0.75. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, sell-side analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insider Transactions at Immunovant

In related news, Director Andrew J. Fromkin sold 8,000 shares of Immunovant stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the transaction, the director now owns 91,913 shares of the company’s stock, valued at $1,801,494.80. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Geffner sold 2,349 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $34,741.71. Following the sale, the insider now directly owns 225,370 shares of the company’s stock, valued at $3,333,222.30. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,682 shares of company stock valued at $753,419. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IMVT shares. Bank of America decreased their price target on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. UBS Group restated a “neutral” rating and issued a $17.00 target price (down previously from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.33.

Immunovant Company 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.