Immunovant, Inc. (NASDAQ:IMVT) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC grew its stake in Immunovant, Inc. (NASDAQ:IMVTFree Report) by 74.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,840 shares of the company’s stock after buying an additional 5,061 shares during the period. Legato Capital Management LLC’s holdings in Immunovant were worth $499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in Immunovant in the 3rd quarter valued at about $26,000. Barclays PLC lifted 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 purchasing an additional 2,200 shares during the period. Metropolitan Life Insurance Co NY grew its position in Immunovant by 24.7% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 2,951 shares of the company’s stock valued at $56,000 after buying an additional 585 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Immunovant by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock valued at $129,000 after buying an additional 1,651 shares during the period. Finally, Amundi acquired a new position in Immunovant in the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Price Performance

Shares of IMVT opened at $32.20 on Monday. Immunovant, Inc. has a 1-year low of $14.05 and a 1-year high of $45.58. The firm has a 50 day simple moving average of $36.00 and a 200-day simple moving average of $35.49.

Immunovant (NASDAQ:IMVTGet Free Report) last released its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. Equities analysts forecast that Immunovant, Inc. will post -1.71 EPS for the current year.

Insider Buying and Selling at Immunovant

In other news, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $41.83, for a total transaction of $147,032.45. Following the completion of the sale, the chief financial officer now directly owns 323,350 shares in the company, valued at $13,525,730.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Mark S. Levine sold 2,134 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total transaction of $77,144.10. Following the transaction, the insider now directly owns 301,968 shares in the company, valued at $10,916,143.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $41.83, for a total value of $147,032.45. Following the completion of the sale, the chief financial officer now owns 323,350 shares of the company’s stock, valued at approximately $13,525,730.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,151 shares of company stock worth $659,896. Corporate insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IMVT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Immunovant in a research report on Tuesday, December 12th. They set a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group assumed coverage on Immunovant in a report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. HC Wainwright lifted their price target on Immunovant from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Bank of America increased their price objective on Immunovant from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $47.88.

Get Our Latest Stock Analysis on IMVT

About Immunovant

(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.

See Also

Institutional Ownership by Quarter for Immunovant (NASDAQ:IMVT)

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