Handelsbanken Fonder AB Purchases 2,900 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Handelsbanken Fonder AB boosted its position in Immunovant, Inc. (NASDAQ:IMVT) by 32.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,800 shares of the company’s stock after acquiring an additional 2,900 shares during the period. Handelsbanken Fonder AB’s holdings in Immunovant were worth $497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Immunovant by 47.5% in the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock worth $297,467,000 after acquiring an additional 2,494,678 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Immunovant by 14.0% in the third quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock worth $239,290,000 after purchasing an additional 764,530 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Immunovant by 6,108.9% in the third quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock worth $45,532,000 after purchasing an additional 1,166,929 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of Immunovant in the third quarter worth approximately $39,767,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Immunovant by 30.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 681,935 shares of the company’s stock worth $26,179,000 after purchasing an additional 160,851 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on IMVT shares. JPMorgan Chase & Co. started coverage on Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective for the company. The Goldman Sachs Group began coverage on Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Friday, January 12th. Oppenheimer began coverage on Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target for the company. Finally, Wolfe Research began coverage on Immunovant in a research report on Thursday, February 15th. They set an “outperform” rating and a $55.00 price target for the company. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.00.

Insider Transactions at Immunovant

In other news, insider Michael Geffner sold 3,261 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the transaction, the insider now directly owns 141,616 shares of the company’s stock, valued at $4,092,702.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total transaction of $94,242.90. Following the completion of the sale, the insider now owns 141,616 shares of the company’s stock, valued at $4,092,702.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jay S. Stout sold 7,239 shares of Immunovant stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $209,207.10. Following the sale, the chief technology officer now directly owns 147,739 shares of the company’s stock, valued at approximately $4,269,657.10. The disclosure for this sale can be found here. Insiders sold 81,560 shares of company stock valued at $2,424,601 over the last three months. Company insiders own 4.80% of the company’s stock.

Immunovant Price Performance

NASDAQ:IMVT opened at $28.52 on Thursday. The business has a fifty day simple moving average of $31.54 and a two-hundred day simple moving average of $35.60. Immunovant, Inc. has a 1 year low of $17.53 and a 1 year high of $45.58. The company has a market capitalization of $4.14 billion, a P/E ratio of -15.50 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. As a group, analysts anticipate that Immunovant, Inc. will post -1.7 earnings per share 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.