J. Goldman & Co LP Takes $851,000 Position in Immunovant, Inc. (NASDAQ:IMVT)

J. Goldman & Co LP purchased a new stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,337 shares of the company's stock, valued at approximately $851,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV lifted its stake 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 buying an additional 1,163 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Immunovant in the fourth quarter valued at $221,000. KLP Kapitalforvaltning AS acquired a new position in Immunovant in the fourth quarter valued at $268,000. Aigen Investment Management LP purchased a new position in Immunovant during the fourth quarter worth about $270,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in Immunovant by 138.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company's stock worth $353,000 after buying an additional 8,289 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IMVT. HC Wainwright reiterated a "buy" rating and set a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Jefferies Financial Group started coverage on shares of Immunovant in a research note on Monday, March 3rd. They set a "hold" rating and a $20.00 price target on the stock. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $17.00 target price (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Immunovant has an average rating of "Moderate Buy" and an average target price of $38.33.

Immunovant Stock Up 1.0%

Shares of Immunovant stock traded up $0.14 during trading hours on Thursday, hitting $13.92. The company's stock had a trading volume of 666,188 shares, compared to its average volume of 1,213,909. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The business has a fifty day moving average of $16.15 and a 200 day moving average of $21.78. The company has a market capitalization of $2.36 billion, a PE ratio of -5.31 and a beta of 0.75.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Transactions at Immunovant

In other news, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the sale, the chief executive officer now owns 1,186,512 shares of the company's stock, valued at $15,412,790.88. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now directly owns 91,913 shares of the company's stock, valued at $1,801,494.80. The trade was a 8.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,682 shares of company stock valued at $753,419 over the last 90 days. Corporate insiders own 5.90% of the company's stock.

About Immunovant

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.