Immunovant, Inc. (NASDAQ:IMVT) Shares Acquired by abrdn plc

abrdn plc increased its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 11.1% in the fourth quarter, Holdings Channel reports. The firm owned 532,110 shares of the company’s stock after acquiring an additional 53,353 shares during the period. abrdn plc’s holdings in Immunovant were worth $13,180,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. KBC Group NV grew its position in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after acquiring an additional 612 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the period. Tyro Capital Management LLC grew its holdings in Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after purchasing an additional 1,529 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Immunovant by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company’s stock worth $771,000 after buying an additional 2,973 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Transactions at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 16,692 shares of Immunovant stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40. Following the sale, the chief executive officer now owns 978,097 shares of the company’s stock, valued at $24,892,568.65. The trade was a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 4,174 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $106,228.30. Following the completion of the transaction, the chief financial officer now directly owns 331,169 shares of the company’s stock, valued at approximately $8,428,251.05. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,892 shares of company stock worth $1,811,857. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research note on Friday. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Immunovant currently has an average rating of “Buy” and an average target price of $47.00.

Immunovant Price Performance

Shares of NASDAQ IMVT opened at $20.41 on Friday. The firm has a market capitalization of $3.47 billion, a PE ratio of -9.19 and a beta of 0.65. Immunovant, Inc. has a 1-year low of $19.86 and a 1-year high of $39.55. The business’s fifty day moving average price is $24.91 and its two-hundred day moving average price is $27.84.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). Equities research analysts expect that Immunovant, Inc. will post -2.84 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.