B. Metzler seel. Sohn & Co. Holding AG Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Immunovant, Inc. (NASDAQ:IMVT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,136 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Immunovant by 7.4% in the third quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after acquiring an additional 22,990 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Immunovant by 66.2% during the third quarter. GSA Capital Partners LLP now owns 24,634 shares of the company’s stock worth $702,000 after purchasing an additional 9,810 shares in the last quarter. Assetmark Inc. raised its stake in Immunovant by 73.8% in the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Immunovant by 69.9% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Stock Up 1.2 %

Shares of Immunovant stock opened at $26.87 on Monday. The business’s fifty day simple moving average is $29.08 and its 200-day simple moving average is $28.90. The firm has a market cap of $3.94 billion, a PE ratio of -12.10 and a beta of 0.66. Immunovant, Inc. has a 52 week low of $24.61 and a 52 week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the business earned ($0.45) EPS. As a group, equities analysts expect that Immunovant, Inc. will post -2.7 earnings per share for the current year.

Analysts Set New Price Targets

IMVT has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Friday, November 8th. Raymond James reiterated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. UBS Group cut their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lowered 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 research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $48.10.

Insider Transactions at Immunovant

In related news, CFO Eva Renee Barnett sold 5,162 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72. Following the transaction, the chief financial officer now owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. This represents a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Salzmann sold 4,460 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $131,837.60. Following the transaction, the chief executive officer now owns 1,003,884 shares of the company’s stock, valued at $29,674,811.04. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,659 shares of company stock worth $2,096,890. 5.90% of the stock is currently owned by insiders.

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.