Immunovant, Inc. (NASDAQ:IMVT) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in Immunovant, Inc. (NASDAQ:IMVT) by 185.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,371 shares of the company’s stock after acquiring an additional 9,335 shares during the period. Los Angeles Capital Management LLC’s holdings in Immunovant were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. lifted its stake in shares of Immunovant by 0.6% in the 3rd quarter. Alps Advisors Inc. now owns 96,434 shares of the company’s stock worth $3,702,000 after acquiring an additional 578 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Immunovant in the 4th quarter worth $27,000. CoreCap Advisors LLC lifted its stake in shares of Immunovant by 11.2% in the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after acquiring an additional 647 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Immunovant by 10.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,370 shares of the company’s stock worth $437,000 after acquiring an additional 951 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of Immunovant in the 4th quarter worth $61,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Thursday, May 30th. Oppenheimer reduced their price objective on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. The Goldman Sachs Group assumed coverage on shares of Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a research note on Monday, March 25th. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $48.75.

Immunovant Price Performance

Shares of NASDAQ IMVT opened at $27.29 on Wednesday. The company has a market cap of $3.99 billion, a PE ratio of -14.36 and a beta of 0.67. Immunovant, Inc. has a 12 month low of $18.16 and a 12 month high of $45.58. The company has a 50-day simple moving average of $27.99 and a 200-day simple moving average of $33.62.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same period last year, the firm posted ($0.46) EPS. On average, analysts anticipate that Immunovant, Inc. will post -2.11 EPS for the current year.

Insider Transactions at Immunovant

In related news, CFO Eva Renee Barnett sold 3,689 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $115,023.02. Following the sale, the chief financial officer now directly owns 371,709 shares of the company’s stock, valued at $11,589,886.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Eva Renee Barnett sold 3,689 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $115,023.02. Following the sale, the chief financial officer now directly owns 371,709 shares of the company’s stock, valued at $11,589,886.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julia G. Butchko sold 3,247 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total transaction of $96,273.55. Following the completion of the sale, the insider now directly owns 448,380 shares in the company, valued at $13,294,467. The disclosure for this sale can be found here. Insiders sold a total of 99,948 shares of company stock worth $2,936,889 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

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.