J. Goldman & Co LP Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

J. Goldman & Co LP acquired a new stake in Immunovant, Inc. (NASDAQ:IMVT) in the 4th quarter, Holdings Channel.com reports. The firm acquired 34,337 shares of the company’s stock, valued at approximately $851,000.

A number of other institutional investors have also recently added to or reduced their stakes in IMVT. KBC Group NV increased its holdings in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Immunovant in the 4th quarter worth approximately $221,000. KLP Kapitalforvaltning AS purchased a new position in Immunovant in the 4th quarter valued at approximately $268,000. Aigen Investment Management LP acquired a new position in Immunovant during the fourth quarter worth $270,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in Immunovant by 138.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company’s stock worth $353,000 after purchasing an additional 8,289 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IMVT has been the topic of several research reports. UBS Group reissued a “neutral” rating and issued a $17.00 target price (down previously from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on shares of Immunovant in a research note on Monday, March 3rd. They issued a “hold” rating and a $20.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Bank of America reduced their price target on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Guggenheim reiterated a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Insiders Place Their Bets

In related news, Director Andrew J. Fromkin sold 8,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares in the company, valued at approximately $1,801,494.80. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at $15,412,790.88. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,682 shares of company stock valued at $753,419 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Immunovant Price Performance

Shares of NASDAQ IMVT opened at $14.02 on Monday. The company has a 50-day simple moving average of $16.48 and a 200-day simple moving average of $22.00. The company has a market cap of $2.38 billion, a PE ratio of -5.35 and a beta of 0.75. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT) last released its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.

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.