EFG Asset Management North America Corp. Acquires 11,000 Shares of Immunovant, Inc. (NASDAQ:IMVT)

EFG Asset Management North America Corp. increased its stake in Immunovant, Inc. (NASDAQ:IMVT) by 23.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,070 shares of the company’s stock after acquiring an additional 11,000 shares during the period. EFG Asset Management North America Corp.’s holdings in Immunovant were worth $1,531,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of Immunovant in the 4th quarter worth about $27,000. Assetmark Inc. bought a new position in Immunovant during the 4th quarter worth about $61,000. EntryPoint Capital LLC increased its position in Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after purchasing an additional 2,163 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Immunovant in the 4th quarter valued at about $212,000. Finally, JFG Wealth Management LLC purchased a new stake in shares of Immunovant in the 4th quarter worth approximately $295,000. 47.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Peter Salzmann sold 8,685 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $257,857.65. Following the transaction, the chief executive officer now directly owns 1,023,412 shares in the company, valued at approximately $30,385,102.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Peter Salzmann sold 8,685 shares of Immunovant stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $29.69, for a total transaction of $257,857.65. Following the transaction, the chief executive officer now owns 1,023,412 shares in the company, valued at approximately $30,385,102.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark S. Levine sold 2,505 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $29.69, for a total value of $74,373.45. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,017,673.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,475 shares of company stock worth $904,638. 5.90% of the stock is owned by corporate insiders.

Immunovant Stock Down 0.4 %

Shares of NASDAQ IMVT traded down $0.14 during midday trading on Monday, hitting $32.28. The company had a trading volume of 153,783 shares, compared to its average volume of 1,145,313. Immunovant, Inc. has a twelve month low of $19.50 and a twelve month high of $45.58. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -16.99 and a beta of 0.67. The business has a 50-day simple moving average of $28.59 and a two-hundred day simple moving average of $30.11.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same period in the previous year, the business posted ($0.57) earnings per share. On average, equities analysts forecast that Immunovant, Inc. will post -2.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IMVT shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Wednesday, August 7th. Oppenheimer dropped their price objective on Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Thursday, May 30th. UBS Group lowered their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Fifteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $48.40.

Immunovant Company Profile

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.