Aquatic Capital Management LLC Invests $1.18 Million in Immunovant, Inc. (NASDAQ:IMVT)

Aquatic Capital Management LLC purchased a new stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 47,648 shares of the company's stock, valued at approximately $1,180,000.

Several other hedge funds have also bought and sold shares of the stock. KBC Group NV increased its holdings in shares of Immunovant by 60.1% during the 4th 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Immunovant in the fourth quarter valued at $268,000. Aigen Investment Management LP acquired a new position in shares of Immunovant in the fourth quarter worth about $270,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Immunovant by 138.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company's stock worth $353,000 after acquiring an additional 8,289 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of 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 acquiring an additional 2,373 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

IMVT has been the subject of a number of analyst reports. Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Bank of America reduced their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Jefferies Financial Group assumed coverage on shares of Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Finally, Guggenheim reiterated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Two investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Insider Transactions at Immunovant

In related news, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares in the company, valued at approximately $1,801,494.80. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jay S. Stout sold 1,925 shares of Immunovant stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the sale, the chief technology officer now owns 209,243 shares in the company, valued at $3,094,703.97. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,682 shares of company stock worth $753,419 in the last quarter. Company insiders own 5.90% of the company's stock.

Immunovant Stock Performance

Shares of NASDAQ:IMVT traded down $0.33 during midday trading on Monday, hitting $15.47. The company's stock had a trading volume of 278,311 shares, compared to its average volume of 1,198,764. The company has a market cap of $2.63 billion, a P/E ratio of -5.91 and a beta of 0.75. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47. The business's 50 day simple moving average is $17.01 and its 200 day simple moving average is $22.55.

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

Immunovant 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.