Immunovant, Inc. (NASDAQ:IMVT) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,931 shares of the company’s stock after purchasing an additional 9,020 shares during the quarter. New York State Common Retirement Fund’s holdings in Immunovant were worth $1,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its stake in Immunovant by 47.5% in the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock valued at $297,467,000 after buying an additional 2,494,678 shares during the last quarter. Fred Alger Management LLC lifted its position in Immunovant by 6,108.9% in the 3rd quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock valued at $45,532,000 after purchasing an additional 1,166,929 shares during the last quarter. Armistice Capital LLC acquired a new position in Immunovant during the 3rd quarter valued at about $39,767,000. Vanguard Group Inc. boosted its stake in Immunovant by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after purchasing an additional 764,530 shares during the period. Finally, Rock Springs Capital Management LP bought a new position in Immunovant in the 3rd quarter worth approximately $24,736,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Trading Down 0.2 %

Shares of NASDAQ:IMVT opened at $29.70 on Friday. The stock has a market capitalization of $4.32 billion, a PE ratio of -16.14 and a beta of 0.70. Immunovant, Inc. has a 1 year low of $17.53 and a 1 year high of $45.58. The firm has a fifty day moving average price of $30.73 and a 200 day moving average price of $35.35.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. On average, sell-side analysts forecast that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMVT has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Immunovant in a report on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price target for the company. Oppenheimer started coverage on shares of Immunovant in a research note on Thursday, March 28th. They set an “outperform” rating and a $50.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a report on Friday, January 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $48.00 price target on shares of Immunovant in a research note on Monday, March 25th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.00.

Insider Transactions at Immunovant

In related news, insider Julia G. Butchko sold 1,053 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total value of $32,832.54. Following the transaction, the insider now directly owns 461,742 shares in the company, valued at approximately $14,397,115.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Julia G. Butchko sold 1,053 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $32,832.54. Following the completion of the sale, the insider now owns 461,742 shares in the company, valued at approximately $14,397,115.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter Salzmann sold 34,079 shares of Immunovant stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $990,335.74. Following the completion of the transaction, the chief executive officer now directly owns 1,052,879 shares in the company, valued at $30,596,663.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,560 shares of company stock worth $2,424,601. 4.80% of the stock is owned by insiders.

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.