Immunovant, Inc. (NASDAQ:IMVT) Shares Purchased by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. raised its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 5.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 202,323 shares of the company’s stock after buying an additional 10,081 shares during the period. Platinum Investment Management Ltd.’s holdings in Immunovant were worth $5,012,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IMVT. Victory Capital Management Inc. grew its holdings in Immunovant by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock valued at $9,561,000 after buying an additional 22,990 shares during the last quarter. KBC Group NV grew its holdings in Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Immunovant during the 3rd quarter valued at $517,000. Intech Investment Management LLC purchased a new position in shares of Immunovant during the 3rd quarter worth $622,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Immunovant by 19.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,430 shares of the company’s stock worth $15,750,000 after purchasing an additional 91,259 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Price Performance

NASDAQ:IMVT opened at $18.79 on Wednesday. The business’s 50-day moving average is $21.12 and its two-hundred day moving average is $25.88. Immunovant, Inc. has a 12 month low of $17.65 and a 12 month high of $35.97. The firm has a market capitalization of $3.19 billion, a PE ratio of -7.17 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last announced its earnings results 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 analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Activity

In other news, CFO Eva Renee Barnett sold 4,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $98,930.50. Following the completion of the sale, the chief financial officer now directly owns 327,064 shares in the company, valued at $7,882,242.40. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jay S. Stout sold 2,195 shares of Immunovant stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the completion of the transaction, the chief technology officer now owns 139,991 shares of the company’s stock, valued at $3,302,387.69. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,510 shares of company stock worth $813,686 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on IMVT. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research note on Friday, February 7th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $42.90.

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.