Twinbeech Capital LP Invests $314,000 in Immunovant, Inc. (NASDAQ:IMVT)

Twinbeech Capital LP bought a new stake in Immunovant, Inc. (NASDAQ:IMVT) in the 4th quarter, Holdings Channel reports. The institutional investor bought 12,689 shares of the company’s stock, valued at approximately $314,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new stake in Immunovant in the 4th quarter valued at about $270,000. Stempoint Capital LP boosted its holdings in Immunovant by 28.4% in the 4th quarter. Stempoint Capital LP now owns 1,118,508 shares of the company’s stock worth $27,705,000 after acquiring an additional 247,507 shares during the period. RTW Investments LP purchased a new position in Immunovant in the 4th quarter worth approximately $13,143,000. ProShare Advisors LLC boosted its holdings in Immunovant by 18.8% in the 4th quarter. ProShare Advisors LLC now owns 23,300 shares of the company’s stock worth $577,000 after acquiring an additional 3,681 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in Immunovant in the 4th quarter worth approximately $860,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IMVT. UBS Group restated a “neutral” rating and issued a $17.00 price target (down previously from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Immunovant in a research note on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price for the company. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Bank of America lowered their price target on Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Immunovant Stock Up 1.0%

NASDAQ:IMVT opened at $14.56 on Friday. The stock has a fifty day simple moving average of $15.54 and a 200 day simple moving average of $21.16. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -5.56 and a beta of 0.75. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47.

Insider Buying and Selling

In related news, Director Andrew J. Fromkin sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 91,913 shares of the company’s stock, valued at approximately $1,801,494.80. This trade represents a 8.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jay S. Stout sold 1,925 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the transaction, the chief technology officer now directly owns 209,243 shares in the company, valued at $3,094,703.97. The trade was a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,682 shares of company stock valued at $753,419. Corporate insiders own 5.90% of the company’s stock.

Immunovant 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.