KBC Group NV Acquires 612 Shares of Immunovant, Inc. (NASDAQ:IMVT)

KBC Group NV grew its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 46.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,936 shares of the company’s stock after purchasing an additional 612 shares during the period. KBC Group NV’s holdings in Immunovant were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after buying an additional 934 shares in the last quarter. DNB Asset Management AS increased its position in Immunovant by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 10,290 shares of the company’s stock valued at $271,000 after purchasing an additional 958 shares during the period. Bamco Inc. NY raised its stake in Immunovant by 1.7% in the first quarter. Bamco Inc. NY now owns 60,000 shares of the company’s stock worth $1,939,000 after buying an additional 1,000 shares in the last quarter. Assetmark Inc. raised its holdings in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Quest Partners LLC raised its stake in shares of Immunovant by 216.7% during the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after acquiring an additional 1,786 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on IMVT. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. UBS Group decreased their target price on Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Raymond James reiterated an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant currently has an average rating of “Buy” and a consensus target price of $48.10.

Insider Activity

In other Immunovant news, insider Mark S. Levine sold 3,650 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total transaction of $92,892.50. Following the completion of the transaction, the insider now directly owns 319,228 shares in the company, valued at approximately $8,124,352.60. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William L. Macias sold 3,188 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $91,782.52. Following the transaction, the insider now directly owns 365,144 shares in the company, valued at approximately $10,512,495.76. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,659 shares of company stock worth $2,096,890 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Immunovant Stock Up 1.2 %

IMVT stock opened at $26.87 on Friday. Immunovant, Inc. has a 52-week low of $24.61 and a 52-week high of $45.58. The firm has a market cap of $3.94 billion, a P/E ratio of -12.10 and a beta of 0.66. The company’s 50-day simple moving average is $29.08 and its 200-day simple moving average is $28.90.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the prior year, the firm posted ($0.45) earnings per share. On average, analysts anticipate that Immunovant, Inc. will post -2.7 earnings per share for the current fiscal year.

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.