Vanguard Group Inc. Has $245.53 Million Stake in Immunovant, Inc. (NASDAQ:IMVT)

Vanguard Group Inc. lowered its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,827,798 shares of the company’s stock after selling 405,348 shares during the quarter. Vanguard Group Inc.’s holdings in Immunovant were worth $245,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of IMVT. Point72 Asset Management L.P. acquired a new stake in shares of Immunovant during the 4th quarter valued at about $112,356,000. Armistice Capital LLC raised its position in Immunovant by 38.6% in the fourth quarter. Armistice Capital LLC now owns 1,436,000 shares of the company’s stock worth $60,499,000 after purchasing an additional 400,123 shares in the last quarter. Boxer Capital LLC lifted its stake in Immunovant by 33.3% during the fourth quarter. Boxer Capital LLC now owns 1,000,000 shares of the company’s stock worth $42,130,000 after purchasing an additional 250,000 shares during the period. Capital Research Global Investors boosted its holdings in Immunovant by 30.2% during the fourth quarter. Capital Research Global Investors now owns 976,237 shares of the company’s stock valued at $41,129,000 after purchasing an additional 226,237 shares in the last quarter. Finally, Rock Springs Capital Management LP bought a new stake in shares of Immunovant in the 3rd quarter valued at approximately $24,736,000. Institutional investors own 47.08% of the company’s stock.

Insider Activity at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 4,807 shares of Immunovant stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the completion of the sale, the chief executive officer now owns 1,086,958 shares of the company’s stock, valued at approximately $33,891,350.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Peter Salzmann sold 4,807 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total value of $149,882.26. Following the transaction, the chief executive officer now directly owns 1,086,958 shares in the company, valued at approximately $33,891,350.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eva Renee Barnett sold 3,689 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $115,023.02. Following the completion of the sale, the chief financial officer now owns 371,709 shares of the company’s stock, valued at approximately $11,589,886.62. The disclosure for this sale can be found here. Insiders have sold 99,948 shares of company stock worth $2,936,889 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

IMVT has been the subject of several analyst reports. Truist Financial restated a “buy” rating and set a $48.00 target price on shares of Immunovant in a research report on Monday, March 25th. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research note on Thursday, May 30th. The Goldman Sachs Group initiated coverage on shares of Immunovant in a research report on Wednesday, March 13th. They set a “buy” rating and a $50.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. Finally, Oppenheimer dropped their price objective on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $48.75.

Immunovant Stock Up 1.5 %

Shares of IMVT opened at $26.40 on Monday. The stock’s fifty day simple moving average is $27.86 and its 200-day simple moving average is $33.27. The firm has a market capitalization of $3.86 billion, a PE ratio of -13.89 and a beta of 0.67. Immunovant, Inc. has a 12-month low of $18.16 and a 12-month high of $45.58.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same period in the previous year, the company earned ($0.46) earnings per share. Analysts anticipate that Immunovant, Inc. will post -2.11 EPS for the current year.

About Immunovant

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.