Mirae Asset Global Investments Co. Ltd. Purchases 934 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Mirae Asset Global Investments Co. Ltd. boosted its position in Immunovant, Inc. (NASDAQ:IMVT) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,294 shares of the company’s stock after acquiring an additional 934 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Immunovant were worth $148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in IMVT. Sei Investments Co. increased its stake in Immunovant by 11.2% in the first quarter. Sei Investments Co. now owns 20,690 shares of the company’s stock valued at $668,000 after acquiring an additional 2,085 shares during the last quarter. ProShare Advisors LLC increased its stake in Immunovant by 9.4% in the first quarter. ProShare Advisors LLC now owns 19,877 shares of the company’s stock valued at $642,000 after acquiring an additional 1,703 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 acquiring an additional 650,506 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Immunovant by 8.9% during the first quarter. Hillsdale Investment Management Inc. now owns 100,200 shares of the company’s stock valued at $3,237,000 after buying an additional 8,200 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Immunovant by 106.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,331 shares of the company’s stock valued at $398,000 after buying an additional 6,344 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IMVT. Raymond James reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Monday, September 30th. UBS Group reduced their price objective 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 on the stock in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $48.10.

Immunovant Price Performance

Shares of IMVT opened at $29.42 on Tuesday. Immunovant, Inc. has a one year low of $24.67 and a one year high of $45.58. The company has a 50-day simple moving average of $29.82 and a two-hundred day simple moving average of $28.92. The firm has a market capitalization of $4.31 billion, a PE ratio of -15.24 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data 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 period last year, the firm posted ($0.57) EPS. Analysts expect that Immunovant, Inc. will post -2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jay S. Stout sold 2,740 shares of Immunovant stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $80,912.20. Following the completion of the transaction, the chief technology officer now directly owns 142,186 shares in the company, valued at approximately $4,198,752.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Peter Salzmann sold 9,095 shares of Immunovant stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $261,845.05. Following the completion of the transaction, the chief executive officer now directly owns 994,789 shares in the company, valued at approximately $28,639,975.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jay S. Stout sold 2,740 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $80,912.20. Following the sale, the chief technology officer now directly owns 142,186 shares of the company’s stock, valued at $4,198,752.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,277 shares of company stock worth $941,919 over the last three months. 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.