Geode Capital Management LLC lifted its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510,926 shares of the company's stock after purchasing an additional 96,924 shares during the period. Geode Capital Management LLC owned 1.03% of Immunovant worth $43,085,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in shares of Immunovant by 7.4% in 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 period. Charles Schwab Investment Management Inc. increased its position in Immunovant by 19.8% in the third 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. Rubric Capital Management LP bought a new stake in Immunovant during the 2nd quarter worth about $1,548,000. First Turn Management LLC lifted its position in Immunovant by 35.6% during the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company's stock valued at $18,359,000 after purchasing an additional 182,535 shares during the period. Finally, State Street Corp lifted its position in Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company's stock valued at $86,167,000 after purchasing an additional 303,386 shares during the period. Institutional investors own 47.08% of the company's stock.
NASDAQ:IMVT opened at $25.76 on Tuesday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -11.60 and a beta of 0.64. The stock has a 50-day moving average price of $28.53 and a two-hundred day moving average price of $28.76. Immunovant, Inc. has a 1 year low of $24.61 and a 1 year high of $45.58.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter last year, the business posted ($0.45) earnings per share. Sell-side analysts forecast that Immunovant, Inc. will post -2.73 earnings per share for the current year.
A number of equities research analysts recently weighed in on IMVT shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reiterated a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Raymond James restated an "outperform" rating and issued a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Oppenheimer upped their price objective on Immunovant from $47.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their target price on Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant presently has a consensus rating of "Buy" and a consensus target price of $47.22.
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In other news, CTO Jay S. Stout sold 2,740 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $80,912.20. Following the completion of the transaction, the chief technology officer now directly owns 142,186 shares of the company's stock, valued at $4,198,752.58. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 5,162 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $152,588.72. Following the transaction, the chief financial officer now owns 338,614 shares of the company's stock, valued at approximately $10,009,429.84. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,659 shares of company stock valued at $2,096,890 over the last quarter. Corporate insiders own 5.90% of the company's stock.
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.
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