Intech Investment Management LLC Increases Position in Immunovant, Inc. (NASDAQ:IMVT)

Intech Investment Management LLC increased its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 44.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,439 shares of the company’s stock after acquiring an additional 9,614 shares during the quarter. Intech Investment Management LLC’s holdings in Immunovant were worth $779,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in shares of Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares during the last quarter. Aigen Investment Management LP purchased a new position in Immunovant during the fourth quarter worth about $270,000. Advantage Alpha Capital Partners LP purchased a new stake in Immunovant in the 3rd quarter valued at about $427,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Immunovant in the 3rd quarter valued at about $517,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Immunovant during the 4th quarter worth about $505,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America lowered their target price on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday. Wolfe Research lowered shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Guggenheim restated a “buy” rating on shares of Immunovant in a research note on Thursday. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $41.70.

Immunovant Price Performance

NASDAQ:IMVT opened at $19.64 on Monday. The business’s 50-day moving average is $20.86 and its two-hundred day moving average is $25.64. The firm has a market capitalization of $3.34 billion, a PE ratio of -7.50 and a beta of 0.68. Immunovant, Inc. has a 12 month low of $17.01 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Equities analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Activity

In other Immunovant news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the purchase, the director now directly owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William L. Macias sold 2,383 shares of Immunovant stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $23.83, for a total value of $56,786.89. Following the sale, the insider now directly owns 359,408 shares in the company, valued at approximately $8,564,692.64. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,510 shares of company stock worth $813,686 over the last 90 days. Company insiders own 5.90% of the company’s stock.

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.