F M Investments LLC Invests $510,000 in Immunovant, Inc. (NASDAQ:IMVT)

F M Investments LLC acquired a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,573 shares of the company's stock, valued at approximately $510,000.

Several other large investors have also recently added to or reduced their stakes in IMVT. KBC Group NV increased its holdings in shares of Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Immunovant during the fourth quarter valued at approximately $268,000. Aigen Investment Management LP bought a new stake in Immunovant during the fourth quarter worth approximately $270,000. Teacher Retirement System of Texas boosted its stake in Immunovant by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock valued at $377,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Immunovant in the fourth quarter valued at $505,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Immunovant

In other news, insider Michael Geffner sold 2,657 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the transaction, the insider now directly owns 132,314 shares in the company, valued at $3,121,287.26. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the sale, the chief executive officer now owns 1,186,512 shares of the company's stock, valued at approximately $15,412,790.88. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,946 shares of company stock valued at $636,200 over the last three months. 5.90% of the stock is owned by corporate insiders.

Immunovant Stock Up 1.2 %

Shares of Immunovant stock traded up $0.18 during midday trading on Thursday, hitting $15.02. The company's stock had a trading volume of 284,206 shares, compared to its average volume of 1,189,046. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The firm has a market capitalization of $2.55 billion, a P/E ratio of -5.74 and a beta of 0.81. The stock has a 50-day simple moving average of $18.22 and a 200-day simple moving average of $23.82.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). As a group, sell-side analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IMVT shares. Wolfe Research downgraded shares of Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price on the stock. Guggenheim restated a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $41.00.

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.