Rhumbline Advisers Has $1.43 Million Stock Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Rhumbline Advisers grew its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,555 shares of the company’s stock after purchasing an additional 2,623 shares during the quarter. Rhumbline Advisers’ holdings in Immunovant were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IMVT. T. Rowe Price Investment Management Inc. lifted its stake in shares of Immunovant by 53.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company’s stock valued at $126,754,000 after purchasing an additional 1,786,217 shares during the period. Deep Track Capital LP lifted its stake in shares of Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock valued at $148,620,000 after purchasing an additional 1,652,536 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Immunovant by 405.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company’s stock valued at $28,568,000 after purchasing an additional 925,081 shares during the period. Two Seas Capital LP lifted its stake in shares of Immunovant by 123.4% in the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company’s stock valued at $37,443,000 after purchasing an additional 835,000 shares during the period. Finally, Boxer Capital Management LLC acquired a new position in shares of Immunovant in the 4th quarter valued at about $20,435,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IMVT. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Bank of America decreased their target price on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group assumed coverage on Immunovant in a research report on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Immunovant Stock Performance

Shares of IMVT opened at $15.86 on Thursday. The stock has a 50 day moving average price of $15.02 and a two-hundred day moving average price of $19.48. The firm has a market capitalization of $2.71 billion, a P/E ratio of -5.79 and a beta of 0.61. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.08. The company had revenue of $0.16 million for the quarter. During the same period in the prior year, the company earned ($0.52) earnings per share. On average, equities analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insiders Place Their Bets

In other Immunovant news, CFO Eva Renee Barnett sold 2,993 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the transaction, the chief financial officer now owns 396,774 shares in the company, valued at $5,907,964.86. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jay S. Stout sold 1,925 shares of the company’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the transaction, the chief technology officer now owns 209,243 shares of the company’s stock, valued at $3,094,703.97. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,682 shares of company stock valued at $596,619. Corporate insiders own 5.90% of the company’s stock.

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.