Immunovant, Inc. $IMVT Shares Acquired by HighVista Strategies LLC

HighVista Strategies LLC boosted its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 38.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,127 shares of the company’s stock after buying an additional 70,319 shares during the quarter. Immunovant accounts for approximately 1.0% of HighVista Strategies LLC’s investment portfolio, making the stock its 25th largest position. HighVista Strategies LLC’s holdings in Immunovant were worth $4,080,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of IMVT. Strs Ohio acquired a new stake in Immunovant in the 1st quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Immunovant during the 3rd quarter valued at about $33,000. PNC Financial Services Group Inc. grew its stake in shares of Immunovant by 138.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,646 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Immunovant by 228.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,140 shares of the company’s stock worth $98,000 after purchasing an additional 4,273 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Immunovant by 14.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,976 shares of the company’s stock worth $112,000 after purchasing an additional 904 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Immunovant news, insider Tuyl Christopher Van sold 10,813 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $26.91, for a total value of $290,977.83. Following the transaction, the insider directly owned 149,930 shares of the company’s stock, valued at $4,034,616.30. This represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jay S. Stout sold 1,977 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $26.03, for a total value of $51,461.31. Following the sale, the chief technology officer directly owned 197,634 shares of the company’s stock, valued at $5,144,413.02. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,993 shares of company stock valued at $374,355. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Immunovant in a report on Tuesday, February 10th. The Goldman Sachs Group boosted their price objective on Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 15th. Truist Financial lifted their target price on shares of Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Friday, January 9th. Finally, Guggenheim lifted their price objective on shares of Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Immunovant Price Performance

NASDAQ:IMVT opened at $24.41 on Monday. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $29.25. The stock’s 50-day moving average is $26.29 and its two-hundred day moving average is $22.68. The stock has a market cap of $4.97 billion, a PE ratio of -9.07 and a beta of 0.61.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter in the previous year, the business earned ($0.76) earnings per share. On average, equities research analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Immunovant Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.