55,524 Shares in Immunovant, Inc. $IMVT Purchased by Capital Fund Management S.A.

Capital Fund Management S.A. acquired a new position in shares of Immunovant, Inc. (NASDAQ:IMVT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 55,524 shares of the company’s stock, valued at approximately $888,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IMVT. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Immunovant by 66.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the company’s stock worth $223,000 after purchasing an additional 5,200 shares during the period. Vanguard Group Inc. lifted its position in Immunovant by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company’s stock worth $118,551,000 after buying an additional 257,445 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Immunovant by 11.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 626,612 shares of the company’s stock worth $10,709,000 after buying an additional 62,170 shares during the period. Deutsche Bank AG boosted its stake in Immunovant by 147.2% during the first quarter. Deutsche Bank AG now owns 411,509 shares of the company’s stock worth $7,033,000 after buying an additional 245,037 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Immunovant in the first quarter valued at $51,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Stock Down 0.3%

Shares of NASDAQ:IMVT opened at $22.84 on Friday. The business’s 50 day moving average is $20.93 and its 200 day moving average is $17.68. The stock has a market cap of $4.00 billion, a P/E ratio of -8.04 and a beta of 0.56. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $29.49.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, November 10th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same period last year, the firm posted ($0.74) earnings per share. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IMVT. Citigroup reaffirmed a “buy” rating on shares of Immunovant in a research note on Monday, August 11th. Truist Financial assumed coverage on Immunovant in a research note on Tuesday, October 14th. They set a “hold” rating and a $16.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. JPMorgan Chase & Co. dropped their price objective on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.78.

Insider Transactions at Immunovant

In other news, Director Andrew J. Fromkin sold 22,249 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $23.25, for a total value of $517,289.25. Following the completion of the sale, the director owned 85,852 shares in the company, valued at approximately $1,996,059. The trade was a 20.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Geffner sold 2,595 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total transaction of $49,382.85. Following the transaction, the insider owned 217,958 shares in the company, valued at approximately $4,147,740.74. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,847 shares of company stock valued at $1,308,023 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.