30,000 Shares in Immunovant, Inc. $IMVT Purchased by Ishara Investments LP

Ishara Investments LP purchased a new position in Immunovant, Inc. (NASDAQ:IMVT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,000 shares of the company’s stock, valued at approximately $763,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in shares of Immunovant during the fourth quarter valued at approximately $25,000. Strs Ohio purchased a new position in shares of Immunovant during the first quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Immunovant during the third quarter valued at approximately $33,000. PNC Financial Services Group Inc. boosted its position in shares of Immunovant by 138.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock valued at $46,000 after buying an additional 1,646 shares during the period. Finally, Quarry LP boosted its position in shares of Immunovant by 94.9% during the fourth quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $76,000 after buying an additional 1,461 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Stock Performance

Immunovant stock opened at $34.71 on Thursday. The company has a 50 day moving average price of $29.80 and a 200-day moving average price of $27.09. Immunovant, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $36.28. The company has a market capitalization of $7.13 billion, a PE ratio of -12.49 and a beta of 0.76.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.13). During the same quarter in the previous year, the company earned ($0.64) EPS. On average, analysts forecast that Immunovant, Inc. will post -2.65 earnings per share for the current year.

Insider Activity

In other news, CFO Tiago Girao sold 25,760 shares of Immunovant stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $29.62, for a total transaction of $763,011.20. Following the completion of the sale, the chief financial officer owned 247,596 shares of the company’s stock, valued at approximately $7,333,793.52. The trade was a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Graham Susman sold 2,502 shares of Immunovant stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $27.17, for a total transaction of $67,979.34. Following the sale, the director directly owned 36,394 shares of the company’s stock, valued at $988,824.98. This represents a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 297,215 shares of company stock valued at $9,481,453. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

IMVT has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Wednesday, April 8th. Truist Financial boosted their target price on Immunovant from $23.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, May 22nd. Citigroup restated a “buy” rating on shares of Immunovant in a research report on Thursday, May 21st. Guggenheim boosted their target price on Immunovant from $44.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, HC Wainwright boosted their target price on Immunovant from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.33.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.