27,148 Shares in Immunovant, Inc. $IMVT Bought by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in Immunovant, Inc. (NASDAQ:IMVT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 27,148 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Immunovant in the 1st quarter valued at about $27,000. 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 worth $46,000 after buying an additional 1,646 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Immunovant by 228.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,140 shares of the company’s stock worth $98,000 after buying an additional 4,273 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Immunovant by 14.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,976 shares of the company’s stock valued at $112,000 after buying an additional 904 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Immunovant by 552.6% in the 3rd quarter. Covestor Ltd now owns 9,378 shares of the company’s stock valued at $152,000 after acquiring an additional 7,941 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Jay S. Stout sold 1,977 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.03, for a total value of $51,461.31. Following the sale, the chief technology officer owned 197,634 shares in the company, valued at approximately $5,144,413.02. This represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas J. Hughes sold 15,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $23.24, for a total value of $348,600.00. Following the sale, the director directly owned 120,773 shares of the company’s stock, valued at $2,806,764.52. This represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 51,242 shares of company stock valued at $1,240,244 over the last 90 days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IMVT. The Goldman Sachs Group raised their price target on shares of Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Guggenheim increased their target price on shares of Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, February 9th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Immunovant in a research note on Tuesday, February 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research note on Friday, January 9th. Finally, Truist Financial lifted their target price on Immunovant from $16.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $27.39 on Wednesday. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $27.92. The company has a market capitalization of $5.57 billion, a P/E ratio of -10.18 and a beta of 0.54. The company has a 50-day simple moving average of $26.23 and a 200 day simple moving average of $21.64.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.11. During the same period last year, the company posted ($0.76) EPS. As a group, equities analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current year.

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.