Quantbot Technologies LP Invests $257,000 in Immunovant, Inc. (NASDAQ:IMVT)

Quantbot Technologies LP purchased a new position in shares of Immunovant, Inc. (NASDAQ:IMVTFree Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,700 shares of the company’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ensign Peak Advisors Inc grew its holdings in shares of Immunovant by 72.6% during the third quarter. Ensign Peak Advisors Inc now owns 6,350 shares of the company’s stock worth $35,000 after buying an additional 2,670 shares in the last quarter. UBS Group AG grew its holdings in shares of Immunovant by 205.7% during the third quarter. UBS Group AG now owns 6,978 shares of the company’s stock worth $39,000 after buying an additional 4,695 shares in the last quarter. Barclays PLC grew its holdings in shares of Immunovant by 2,558.1% during the second quarter. Barclays PLC now owns 2,286 shares of the company’s stock worth $43,000 after buying an additional 2,200 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Immunovant by 24.7% during the second quarter. Metropolitan Life Insurance Co NY now owns 2,951 shares of the company’s stock worth $56,000 after buying an additional 585 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Immunovant by 17.6% during the second quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock worth $60,000 after buying an additional 2,293 shares in the last quarter. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Trading Up 0.7 %

Shares of IMVT stock opened at $35.50 on Friday. The company has a market capitalization of $5.14 billion, a PE ratio of -18.02 and a beta of 0.70. The firm has a fifty day simple moving average of $40.17 and a 200-day simple moving average of $32.71. Immunovant, Inc. has a twelve month low of $14.05 and a twelve month high of $45.58.

Immunovant (NASDAQ:IMVTGet Free Report) last announced its earnings results on Thursday, November 9th. The company reported ($0.45) earnings per share for the quarter, meeting the consensus estimate of ($0.45). Equities research analysts predict that Immunovant, Inc. will post -1.83 EPS for the current year.

Insider Activity

In other Immunovant news, CFO Eva Renee Barnett sold 4,055 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $32.78, for a total transaction of $132,922.90. Following the transaction, the chief financial officer now directly owns 326,865 shares in the company, valued at approximately $10,714,634.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunovant news, insider Julia G. Butchko sold 1,297 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $38.59, for a total transaction of $50,051.23. Following the sale, the insider now directly owns 409,963 shares of the company’s stock, valued at $15,820,472.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eva Renee Barnett sold 4,055 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $32.78, for a total transaction of $132,922.90. Following the sale, the chief financial officer now directly owns 326,865 shares in the company, valued at $10,714,634.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,624 shares of company stock worth $1,248,375. 4.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on IMVT. UBS Group upped their price target on shares of Immunovant from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. HC Wainwright upped their price target on shares of Immunovant from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Bank of America upped their price target on shares of Immunovant from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Finally, Piper Sandler upped their price target on shares of Immunovant from $28.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant presently has an average rating of “Buy” and an average target price of $46.92.

Get Our Latest Report on IMVT

Immunovant Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Immunovant (NASDAQ:IMVT)

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