Immunovant, Inc. $IMVT Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its position in Immunovant, Inc. (NASDAQ:IMVT) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 536,622 shares of the company’s stock after buying an additional 9,255 shares during the quarter. Northern Trust Corp owned approximately 0.32% of Immunovant worth $9,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Immunovant during the fourth quarter worth approximately $505,000. Ameriprise Financial Inc. purchased a new stake in shares of Immunovant during the fourth quarter worth approximately $221,000. BNP Paribas Financial Markets purchased a new stake in shares of Immunovant during the fourth quarter worth approximately $2,110,000. Bank of America Corp DE raised its stake in shares of Immunovant by 50.4% during the fourth quarter. Bank of America Corp DE now owns 341,535 shares of the company’s stock worth $8,460,000 after purchasing an additional 114,511 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Immunovant by 11.3% during the fourth quarter. Deutsche Bank AG now owns 166,472 shares of the company’s stock worth $4,124,000 after purchasing an additional 16,903 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

IMVT has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Immunovant from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. UBS Group increased their price objective on Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. The Goldman Sachs Group upgraded Immunovant to a “hold” rating and set a $18.00 price objective for the company in a research report on Thursday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Immunovant in a research report on Thursday. Finally, Citigroup reissued a “buy” rating on shares of Immunovant in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Insider Activity

In related news, CTO Jay S. Stout sold 2,805 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $50,910.75. Following the sale, the chief technology officer directly owned 204,919 shares in the company, valued at approximately $3,719,279.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Geffner sold 2,385 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total value of $43,287.75. Following the sale, the insider owned 221,825 shares of the company’s stock, valued at approximately $4,026,123.75. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,869 shares of company stock worth $140,384. Company insiders own 1.80% of the company’s stock.

Immunovant Stock Up 6.3%

IMVT opened at $17.14 on Friday. The firm has a market cap of $2.99 billion, a P/E ratio of -6.01 and a beta of 0.45. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47. The business’s fifty day simple moving average is $16.31 and its 200 day simple moving average is $16.38.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. During the same period in the previous year, the company earned ($0.60) EPS. As a group, equities analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

About Immunovant

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.