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

Platinum Investment Management Ltd. increased its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,323 shares of the company’s stock after purchasing an additional 10,081 shares during the quarter. Platinum Investment Management Ltd. owned 0.12% of Immunovant worth $5,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IMVT. Victory Capital Management Inc. grew its stake in Immunovant by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 335,360 shares of the company’s stock worth $9,561,000 after purchasing an additional 22,990 shares in the last quarter. KBC Group NV boosted its position in shares of Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after acquiring an additional 612 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Immunovant during the 3rd quarter worth about $517,000. Intech Investment Management LLC acquired a new position in shares of Immunovant during the 3rd quarter worth about $622,000. Finally, Charles Schwab Investment Management Inc. boosted its position 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 acquiring an additional 91,259 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IMVT. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America reduced their target price on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and an average target price of $42.90.

Immunovant Stock Down 6.1 %

IMVT opened at $18.79 on Wednesday. The business has a 50 day moving average price of $21.12 and a two-hundred day moving average price of $25.88. The company has a market cap of $3.19 billion, a PE ratio of -7.17 and a beta of 0.68. Immunovant, Inc. has a 52 week low of $17.65 and a 52 week high of $35.97.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, sell-side analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Peter Salzmann sold 5,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $123,030.50. Following the sale, the chief executive officer now owns 972,992 shares in the company, valued at $23,449,107.20. This represents a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 4,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $98,930.50. Following the completion of the sale, the chief financial officer now owns 327,064 shares in the company, valued at approximately $7,882,242.40. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,510 shares of company stock worth $813,686. Company insiders own 5.90% of the company’s stock.

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.