Immunovant, Inc. (NASDAQ:IMVT) Holdings Lifted by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,221 shares of the company’s stock after buying an additional 37,165 shares during the period. Ensign Peak Advisors Inc’s holdings in Immunovant were worth $5,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IMVT. Vanguard Group Inc. raised its stake in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after acquiring an additional 650,506 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Immunovant during the fourth quarter valued at about $112,356,000. Alpine Global Management LLC grew its position in Immunovant by 34.6% in the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after buying an additional 484,332 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after buying an additional 259,481 shares during the period. Finally, Armistice Capital LLC raised its position in shares of Immunovant by 38.6% during the 4th quarter. Armistice Capital LLC now owns 1,436,000 shares of the company’s stock worth $60,499,000 after buying an additional 400,123 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report 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 research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. Oppenheimer lowered their target price on Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research report on Tuesday, September 10th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $48.40.

Immunovant Price Performance

Immunovant stock opened at $28.42 on Thursday. Immunovant, Inc. has a fifty-two week low of $24.67 and a fifty-two week high of $45.58. The firm’s 50 day simple moving average is $29.76 and its 200-day simple moving average is $29.25. The company has a market cap of $4.16 billion, a P/E ratio of -14.96 and a beta of 0.67.

Immunovant (NASDAQ:IMVT) last announced its earnings results 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 quarter in the prior year, the business earned ($0.57) EPS. On average, analysts expect that Immunovant, Inc. will post -2.43 EPS for the current fiscal year.

Insider Activity at Immunovant

In other Immunovant news, CTO Jay S. Stout sold 2,813 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 144,926 shares in the company, valued at approximately $4,023,145.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Peter Salzmann sold 4,619 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.06, for a total transaction of $129,609.14. Following the completion of the sale, the chief executive officer now directly owns 1,032,097 shares in the company, valued at $28,960,641.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the chief technology officer now directly owns 144,926 shares of the company’s stock, valued at approximately $4,023,145.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,475 shares of company stock valued at $904,638. Company 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.