Charles Schwab Investment Management Inc. Boosts Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

Charles Schwab Investment Management Inc. grew its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 19.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 552,430 shares of the company’s stock after purchasing an additional 91,259 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Immunovant were worth $15,750,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Immunovant in the third quarter worth approximately $622,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Immunovant in the 3rd quarter valued at $517,000. KBC Group NV grew its holdings in shares of Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Immunovant by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after purchasing an additional 22,990 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Immunovant by 66.2% in the 3rd 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 during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Stock Up 0.8 %

Shares of Immunovant stock opened at $28.62 on Friday. The business has a 50 day moving average of $28.96 and a 200 day moving average of $28.76. Immunovant, Inc. has a 52 week low of $24.61 and a 52 week high of $45.58. The company has a market cap of $4.20 billion, a PE ratio of -12.89 and a beta of 0.64.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period last year, the company posted ($0.45) EPS. On average, research analysts anticipate that Immunovant, Inc. will post -2.73 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. UBS Group reduced their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Oppenheimer lifted their price target on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant currently has an average rating of “Buy” and an average price target of $48.10.

Insider Buying and Selling

In related news, CEO Peter Salzmann sold 16,692 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $424,811.40. Following the sale, the chief executive officer now directly owns 978,097 shares of the company’s stock, valued at $24,892,568.65. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark S. Levine sold 3,650 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $92,892.50. Following the transaction, the insider now directly owns 319,228 shares of the company’s stock, valued at $8,124,352.60. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,659 shares of company stock valued at $2,096,890 over the last three months. Corporate 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.