Immunovant, Inc. (NASDAQ:IMVT) Shares Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. increased its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 8.4% in the fourth quarter, Holdings Channel reports. The firm owned 67,669 shares of the company’s stock after buying an additional 5,234 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Immunovant were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. KBC Group NV boosted its stake in Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company’s stock worth $77,000 after purchasing an additional 1,163 shares during the period. Ameriprise Financial Inc. acquired a new stake in Immunovant during the 4th quarter worth $221,000. KLP Kapitalforvaltning AS acquired a new stake in Immunovant during the 4th quarter worth $268,000. Aigen Investment Management LP acquired a new stake in Immunovant during the 4th quarter worth $270,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Immunovant by 138.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company’s stock worth $353,000 after purchasing an additional 8,289 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Stock Down 3.9%

Shares of IMVT opened at $14.41 on Thursday. The company has a 50-day simple moving average of $15.65 and a 200-day simple moving average of $21.26. The company has a market capitalization of $2.45 billion, a PE ratio of -5.50 and a beta of 0.75. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47.

Insider Activity

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This trade represents a 2.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the transaction, the director now owns 91,913 shares of the company’s stock, valued at $1,801,494.80. This trade represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,682 shares of company stock worth $753,419 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on IMVT. Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Guggenheim restated a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Bank of America cut their price objective on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a “hold” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Immunovant Company 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.