Headlands Technologies LLC Buys New Stake in Immunovant, Inc. (NASDAQ:IMVT)

Headlands Technologies LLC purchased a new position in shares of Immunovant, Inc. (NASDAQ:IMVT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,927 shares of the company’s stock, valued at approximately $77,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Assetmark Inc. acquired a new position in Immunovant in the fourth quarter valued at $61,000. Quest Partners LLC lifted its stake in Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Immunovant by 288.8% in the first quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after acquiring an additional 2,163 shares during the period. DNB Asset Management AS grew its position in shares of Immunovant by 10.3% during the second quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock worth $271,000 after acquiring an additional 958 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Immunovant by 106.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,331 shares of the company’s stock valued at $398,000 after acquiring an additional 6,344 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Immunovant Trading Down 0.8 %

IMVT stock opened at $29.43 on Tuesday. The firm has a 50 day moving average of $29.93 and a 200-day moving average of $29.44. The company has a market cap of $4.30 billion, a price-to-earnings ratio of -15.49 and a beta of 0.67. Immunovant, Inc. has a 12-month low of $19.50 and a 12-month high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same period in the previous year, the business earned ($0.57) earnings per share. Sell-side analysts forecast that Immunovant, Inc. will post -2.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group decreased their price target on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Oppenheimer reduced their price objective on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Immunovant in a report on Tuesday, September 10th. Fifteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Immunovant has a consensus rating of “Buy” and a consensus target price of $48.40.

Insider Transactions at Immunovant

In related news, CTO Jay S. Stout sold 2,813 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $78,088.88. Following the sale, the chief technology officer now directly owns 144,926 shares of the company’s stock, valued at approximately $4,023,145.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Immunovant news, CTO Jay S. Stout sold 2,813 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total transaction of $78,088.88. Following the completion of the transaction, the chief technology officer now owns 144,926 shares of the company’s stock, valued at $4,023,145.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eva Renee Barnett sold 4,747 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.06, for a total value of $133,200.82. Following the completion of the sale, the chief financial officer now owns 350,667 shares in the company, valued at $9,839,716.02. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $904,638 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Immunovant Company 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.