ABC Arbitrage SA Acquires Shares of 29,639 Immunovant, Inc. (NASDAQ:IMVT)

ABC Arbitrage SA acquired a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 29,639 shares of the company’s stock, valued at approximately $734,000.

Several other institutional investors have also bought and sold shares of the business. abrdn plc lifted its position in Immunovant by 11.1% during the fourth quarter. abrdn plc now owns 532,110 shares of the company’s stock valued at $13,180,000 after purchasing an additional 53,353 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Immunovant by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company’s stock valued at $771,000 after purchasing an additional 2,973 shares during the last quarter. KBC Group NV lifted its position in Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after purchasing an additional 1,163 shares during the last quarter. Principal Financial Group Inc. lifted its position in Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after purchasing an additional 391,436 shares during the last quarter. Finally, Tyro Capital Management LLC lifted its holdings in shares of Immunovant by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock worth $7,189,000 after acquiring an additional 1,529 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Immunovant Price Performance

Shares of IMVT opened at $20.33 on Friday. Immunovant, Inc. has a 1-year low of $19.07 and a 1-year high of $39.55. The company has a 50-day moving average of $23.87 and a 200 day moving average of $27.48. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -7.76 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, equities analysts anticipate that Immunovant, Inc. will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 4,174 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $106,228.30. Following the transaction, the chief financial officer now owns 331,169 shares of the company’s stock, valued at approximately $8,428,251.05. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Salzmann sold 16,692 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $424,811.40. Following the transaction, the chief executive officer now directly owns 978,097 shares in the company, valued at $24,892,568.65. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,892 shares of company stock valued at $1,811,857. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IMVT. Guggenheim lowered their target price on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a report on Friday, February 7th. Bank of America lowered their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.90.

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.