Rhumbline Advisers Buys 2,623 Shares of Immunovant, Inc. $IMVT

Rhumbline Advisers lifted its position 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 acquiring an additional 2,623 shares during the period. Rhumbline Advisers’ holdings in Immunovant were worth $1,428,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Strs Ohio bought a new position in shares of Immunovant during the first quarter worth $27,000. FNY Investment Advisers LLC bought a new position in Immunovant during the first quarter worth about $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Immunovant in the first quarter valued at about $37,000. Headlands Technologies LLC bought a new stake in shares of Immunovant in the first quarter worth about $51,000. Finally, Covestor Ltd increased its holdings in shares of Immunovant by 187.5% in the first quarter. Covestor Ltd now owns 3,764 shares of the company’s stock worth $64,000 after acquiring an additional 2,455 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Price Performance

Shares of IMVT opened at $14.78 on Friday. The company’s 50-day moving average is $16.09 and its 200-day moving average is $16.08. The firm has a market capitalization of $2.58 billion, a PE ratio of -5.19 and a beta of 0.45. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $32.10.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. During the same quarter last year, the business posted ($0.60) earnings per share. Analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IMVT shares. JPMorgan Chase & Co. decreased 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. Bank of America cut their price target on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. UBS Group increased their price objective on shares of Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Immunovant in a research report on Thursday, September 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Immunovant in a research note 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 assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Insider Activity at Immunovant

In other news, CTO Jay S. Stout sold 2,805 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $50,910.75. Following the transaction, the chief technology officer owned 204,919 shares of the company’s stock, valued at approximately $3,719,279.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $43,287.75. Following the sale, the insider directly owned 221,825 shares of the company’s stock, valued at approximately $4,026,123.75. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,869 shares of company stock worth $140,384 in the last ninety days. 1.80% of the stock is owned by company insiders.

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.