Aigen Investment Management LP Purchases New Shares in Immunovant, Inc. (NASDAQ:IMVT)

Aigen Investment Management LP purchased a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,898 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IMVT. FMR LLC grew its position in Immunovant by 19.6% during the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after buying an additional 2,053,688 shares during the period. Baker BROS. Advisors LP increased its stake in shares of Immunovant by 163.7% during the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock worth $34,936,000 after purchasing an additional 760,692 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after purchasing an additional 391,436 shares in the last quarter. State Street Corp increased its stake in shares of Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after purchasing an additional 303,386 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Immunovant by 6.9% during the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock worth $43,085,000 after purchasing an additional 96,924 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Trading Up 2.6 %

IMVT opened at $20.02 on Friday. The firm has a market capitalization of $3.40 billion, a PE ratio of -7.64 and a beta of 0.68. Immunovant, Inc. has a twelve month low of $17.65 and a twelve month high of $35.97. The firm’s 50-day moving average price is $21.85 and its 200 day moving average price is $26.52.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 4,105 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the transaction, the chief financial officer now directly owns 327,064 shares in the company, valued at $7,882,242.40. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Salzmann sold 5,105 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the transaction, the chief executive officer now owns 972,992 shares in the company, valued at $23,449,107.20. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,510 shares of company stock worth $656,886 in the last ninety days. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Guggenheim cut their target price on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Jefferies Financial Group assumed coverage on shares of Immunovant in a research note on Monday, March 3rd. They set a “hold” rating and a $20.00 target price for the company. Bank of America cut their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Wolfe Research cut shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.55.

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.