SG Americas Securities LLC Has $1.01 Million Stock Holdings in Immunovant, Inc. $IMVT

SG Americas Securities LLC raised its stake in Immunovant, Inc. (NASDAQ:IMVT) by 679.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,598 shares of the company’s stock after purchasing an additional 54,570 shares during the quarter. SG Americas Securities LLC’s holdings in Immunovant were worth $1,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IMVT. Strs Ohio bought a new position in shares of Immunovant in the first quarter valued at $27,000. Farther Finance Advisors LLC lifted its stake in Immunovant by 142,750.0% in the second quarter. Farther Finance Advisors LLC now owns 2,857 shares of the company’s stock valued at $46,000 after acquiring an additional 2,855 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Immunovant by 228.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,140 shares of the company’s stock valued at $98,000 after acquiring an additional 4,273 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Immunovant by 11.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,603 shares of the company’s stock valued at $106,000 after acquiring an additional 675 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Immunovant by 14.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,976 shares of the company’s stock worth $112,000 after purchasing an additional 904 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Immunovant Price Performance

IMVT stock opened at $26.27 on Monday. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $27.80. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -9.25 and a beta of 0.57. The business’s fifty day moving average price is $24.83 and its two-hundred day moving average price is $19.90.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same quarter last year, the business posted ($0.74) EPS. Research analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Activity at Immunovant

In other Immunovant news, Director Andrew J. Fromkin sold 22,249 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $23.25, for a total transaction of $517,289.25. Following the transaction, the director owned 85,852 shares in the company, valued at $1,996,059. This trade represents a 20.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Geffner sold 2,595 shares of Immunovant stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $19.03, for a total value of $49,382.85. Following the completion of the transaction, the insider directly owned 217,958 shares of the company’s stock, valued at $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. In the last three months, insiders sold 67,006 shares of company stock valued at $1,584,347. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on IMVT. JPMorgan Chase & Co. cut their target price on shares of Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. Wolfe Research upgraded Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research note on Friday, January 9th. The Goldman Sachs Group increased their price target on Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Finally, Truist Financial raised their price target on Immunovant from $16.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.78.

Immunovant Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.