State Street Corp Buys 303,386 Shares of Immunovant, Inc. (NASDAQ:IMVT)

State Street Corp lifted its stake in Immunovant, Inc. (NASDAQ:IMVT) by 11.2% during the third quarter, HoldingsChannel.com reports. The firm owned 3,022,342 shares of the company’s stock after purchasing an additional 303,386 shares during the quarter. State Street Corp’s holdings in Immunovant were worth $86,167,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. KBC Group NV boosted its position in shares of 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 purchasing an additional 612 shares in the last quarter. Quest Partners LLC lifted its position in Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after acquiring an additional 1,786 shares in the last quarter. Headlands Technologies LLC bought a new position in Immunovant in the 2nd quarter valued at approximately $77,000. Assetmark Inc. lifted its position 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 acquiring an additional 1,228 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 4,460 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $131,837.60. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William L. Macias sold 3,188 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $91,782.52. Following the sale, the insider now directly owns 365,144 shares in the company, valued at approximately $10,512,495.76. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,659 shares of company stock valued at $2,096,890 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Immunovant Stock Performance

Shares of Immunovant stock opened at $27.63 on Tuesday. Immunovant, Inc. has a one year low of $24.61 and a one year high of $45.58. The stock’s fifty day moving average is $28.81 and its 200 day moving average is $28.73. The stock has a market cap of $4.06 billion, a P/E ratio of -12.45 and a beta of 0.64.

Immunovant (NASDAQ:IMVT) last announced 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 period in the prior year, the company earned ($0.45) earnings per share. Analysts predict that Immunovant, Inc. will post -2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IMVT. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Friday, November 8th. Finally, Oppenheimer increased their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunovant has a consensus rating of “Buy” and a consensus target price of $47.89.

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.