WCM Investment Management LLC Has $3.81 Million Position in Immunovant, Inc. (NASDAQ:IMVT)

WCM Investment Management LLC lowered its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 8.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 159,525 shares of the company’s stock after selling 14,459 shares during the period. WCM Investment Management LLC’s holdings in Immunovant were worth $3,809,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KBC Group NV increased its holdings in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares during the period. Assetmark Inc. increased its stake in shares of Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after acquiring an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of Immunovant in the third quarter worth approximately $261,000. Finally, Advantage Alpha Capital Partners LP bought a new stake in Immunovant in the third quarter valued at approximately $427,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insider Buying and Selling at Immunovant

In related news, insider Mark S. Levine sold 3,650 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $92,892.50. Following the sale, the insider now owns 319,228 shares in the company, valued at $8,124,352.60. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the business’s stock in a transaction on Monday, January 13th. The shares were bought at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the purchase, the director now directly owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 72,892 shares of company stock valued at $1,811,857. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

IMVT has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Bank of America cut their price target on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Thursday, January 30th. Finally, HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $47.00.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $20.41 on Monday. Immunovant, Inc. has a 52-week low of $19.86 and a 52-week high of $39.55. The business’s 50 day simple moving average is $24.75 and its two-hundred day simple moving average is $27.79. The firm has a market cap of $3.47 billion, a P/E ratio of -7.79 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last issued its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, equities analysts forecast that Immunovant, Inc. will post -2.74 earnings per share for the current fiscal year.

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.