BNP Paribas Financial Markets Buys New Holdings in Immunovant, Inc. (NASDAQ:IMVT)

BNP Paribas Financial Markets bought a new position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 85,201 shares of the company's stock, valued at approximately $2,110,000. BNP Paribas Financial Markets owned approximately 0.05% of Immunovant as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in shares of Immunovant during the fourth quarter worth $734,000. Vanguard Group Inc. increased its position in Immunovant by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock worth $165,449,000 after purchasing an additional 20,614 shares during the last quarter. Rhumbline Advisers increased its position in Immunovant by 1.5% in the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after purchasing an additional 1,188 shares during the last quarter. Sei Investments Co. raised its stake in shares of Immunovant by 4.0% during the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after purchasing an additional 1,541 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Immunovant by 11.1% during the 4th quarter. abrdn plc now owns 532,110 shares of the company's stock worth $13,180,000 after purchasing an additional 53,353 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Immunovant Price Performance

Shares of NASDAQ IMVT traded down $0.02 during trading hours on Thursday, hitting $14.40. 60,225 shares of the company's stock were exchanged, compared to its average volume of 1,218,978. The company's 50-day moving average price is $15.65 and its 200-day moving average price is $21.26. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -5.49 and a beta of 0.75.

Analyst Upgrades and Downgrades

IMVT has been the subject of several recent research reports. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. UBS Group reaffirmed a "neutral" rating and issued a $17.00 price objective (down previously from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. HC Wainwright reiterated a "buy" rating and issued 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 report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. Finally, Bank of America cut their target price on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.33.

Insider Transactions at Immunovant

In other Immunovant news, insider Michael Geffner sold 2,349 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $34,741.71. Following the sale, the insider now directly owns 225,370 shares in the company, valued at $3,333,222.30. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the transaction, the director now directly owns 91,913 shares of the company's stock, valued at $1,801,494.80. This represents a 8.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,682 shares of company stock worth $753,419 over the last three months. 5.90% of the stock is currently owned by insiders.

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.