WINTON GROUP Ltd Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

WINTON GROUP Ltd acquired a new stake in Immunovant, Inc. (NASDAQ:IMVT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,675 shares of the company’s stock, valued at approximately $546,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boxer Capital LLC boosted its stake in shares of Immunovant by 33.3% in the fourth quarter. Boxer Capital LLC now owns 1,000,000 shares of the company’s stock valued at $42,130,000 after purchasing an additional 250,000 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Immunovant by 198.0% in the second quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after purchasing an additional 207,003 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Immunovant in the fourth quarter valued at approximately $5,651,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Immunovant by 98.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,788 shares of the company’s stock valued at $2,319,000 after acquiring an additional 35,589 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Immunovant by 34.6% in the fourth quarter. Principal Financial Group Inc. now owns 440,115 shares of the company’s stock valued at $18,542,000 after acquiring an additional 113,040 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Activity

In other news, CTO Jay S. Stout sold 2,813 shares of Immunovant stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $78,088.88. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Jay S. Stout sold 2,813 shares of Immunovant stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total value of $78,088.88. Following the transaction, the chief technology officer now directly owns 144,926 shares in the company, valued at approximately $4,023,145.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Geffner sold 3,456 shares of Immunovant stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $95,938.56. Following the completion of the transaction, the insider now owns 138,160 shares in the company, valued at $3,835,321.60. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $904,638 in the last ninety days. 5.90% of the stock is currently owned by company insiders.

Immunovant Price Performance

Shares of Immunovant stock opened at $29.08 on Wednesday. The firm’s fifty day simple moving average is $29.92 and its 200-day simple moving average is $29.39. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -15.31 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 announced its earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter last year, the business earned ($0.57) EPS. Analysts anticipate that Immunovant, Inc. will post -2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.