65,267 Shares in Immunovant, Inc. $IMVT Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in Immunovant, Inc. (NASDAQ:IMVT) in the 2nd quarter, HoldingsChannel reports. The firm acquired 65,267 shares of the company’s stock, valued at approximately $2,515,000.

Other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its position in shares of Immunovant by 6.8% during the second quarter. Handelsbanken Fonder AB now owns 34,500 shares of the company’s stock valued at $1,329,000 after buying an additional 2,200 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Immunovant by 32.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 120,686 shares of the company’s stock valued at $4,650,000 after buying an additional 29,677 shares during the last quarter. Bank of America Corp DE lifted its stake in Immunovant by 185.1% during the 1st quarter. Bank of America Corp DE now owns 893,678 shares of the company’s stock valued at $22,199,000 after acquiring an additional 580,197 shares in the last quarter. ADAR1 Capital Management LLC lifted its stake in Immunovant by 8.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,679,010 shares of the company’s stock valued at $66,547,000 after acquiring an additional 198,042 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Immunovant by 9.7% during the 1st quarter. California State Teachers Retirement System now owns 94,286 shares of the company’s stock worth $2,342,000 after acquiring an additional 8,334 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling at Immunovant

In other Immunovant news, COO Melanie Gloria sold 17,714 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $38.31, for a total value of $678,623.34. Following the completion of the transaction, the chief operating officer owned 224,393 shares in the company, valued at $8,596,495.83. This trade represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tuyl Christopher Van sold 17,824 shares of Immunovant stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $38.31, for a total value of $682,837.44. Following the transaction, the insider directly owned 180,597 shares of the company’s stock, valued at $6,918,671.07. The trade was a 8.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,810 shares of company stock valued at $11,350,166 in the last quarter. Insiders own 1.90% of the company’s stock.

Immunovant Price Performance

NASDAQ IMVT opened at $41.82 on Friday. The business’s fifty day moving average is $38.19 and its 200-day moving average is $31.12. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -14.83 and a beta of 0.77. Immunovant, Inc. has a one year low of $14.47 and a one year high of $42.92.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.12). The business had revenue of $7.09 million for the quarter, compared to analyst estimates of $7.09 million. During the same quarter last year, the company posted ($0.71) earnings per share. Research analysts expect that Immunovant, Inc. will post -2.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IMVT. Citigroup upped their target price on shares of Immunovant from $57.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. HC Wainwright boosted their price target on shares of Immunovant from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Truist Financial upped their price objective on shares of Immunovant from $23.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunovant in a research note on Monday, July 6th. Finally, Guggenheim lifted their target price on shares of Immunovant from $44.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.