Handelsbanken Fonder AB Grows Position in Immunovant, Inc. (NASDAQ:IMVT)

Handelsbanken Fonder AB grew its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 29.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,900 shares of the company’s stock after purchasing an additional 4,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Immunovant were worth $596,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IMVT. Armistice Capital LLC raised its holdings in Immunovant by 57.0% in the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares during the period. Vanguard Group Inc. increased its position in shares of Immunovant by 11.2% in the first quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after buying an additional 650,506 shares in the last quarter. Alpine Global Management LLC raised its stake in shares of Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after buying an additional 484,332 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after buying an additional 259,481 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Immunovant by 198.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after acquiring an additional 207,003 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Performance

IMVT opened at $30.40 on Monday. The stock has a market capitalization of $4.44 billion, a PE ratio of -16.00 and a beta of 0.66. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58. The business’s 50 day moving average price is $29.95 and its 200 day moving average price is $29.04.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same quarter last year, the business earned ($0.57) earnings per share. As a group, equities research analysts forecast that Immunovant, Inc. will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other news, CFO Eva Renee Barnett sold 3,123 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total value of $92,721.87. Following the sale, the chief financial officer now directly owns 347,544 shares of the company’s stock, valued at approximately $10,318,581.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Peter Salzmann sold 8,685 shares of Immunovant stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total value of $257,857.65. Following the completion of the transaction, the chief executive officer now owns 1,023,412 shares in the company, valued at approximately $30,385,102.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eva Renee Barnett sold 3,123 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total transaction of $92,721.87. Following the completion of the transaction, the chief financial officer now owns 347,544 shares of the company’s stock, valued at approximately $10,318,581.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,204 shares of company stock valued at $883,407 over the last 90 days. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. UBS Group lowered their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $48.58.

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.