825,000 Shares in Immunovant, Inc. (NASDAQ:IMVT) Purchased by Boxer Capital Management LLC

Boxer Capital Management LLC purchased a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 825,000 shares of the company's stock, valued at approximately $20,435,000. Immunovant makes up 1.7% of Boxer Capital Management LLC's investment portfolio, making the stock its 17th largest position. Boxer Capital Management LLC owned 0.49% of Immunovant as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in IMVT. Northern Trust Corp boosted its holdings in Immunovant by 4.0% in the fourth quarter. Northern Trust Corp now owns 527,367 shares of the company's stock worth $13,063,000 after purchasing an additional 20,377 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Immunovant in the fourth quarter worth about $1,180,000. Two Seas Capital LP boosted its stake in shares of Immunovant by 123.4% during the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company's stock worth $37,443,000 after acquiring an additional 835,000 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Immunovant by 53.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock valued at $126,754,000 after acquiring an additional 1,786,217 shares during the last quarter. Finally, Alpine Global Management LLC raised its stake in shares of Immunovant by 14.7% in the 4th quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company's stock valued at $53,476,000 after acquiring an additional 276,200 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IMVT. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Bank of America cut their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. Jefferies Financial Group began coverage on Immunovant in a research note on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective for the company. Finally, UBS Group restated a "neutral" rating and issued a $17.00 target price (down previously from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Immunovant currently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Insider Buying and Selling at Immunovant

In other Immunovant news, Director Andrew J. Fromkin sold 8,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total transaction of $364,941.06. Following the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at $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 have sold a total of 51,682 shares of company stock valued at $753,419 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Immunovant Stock Up 2.9 %

Shares of IMVT traded up $0.40 during trading hours on Wednesday, hitting $14.24. The company had a trading volume of 404,816 shares, compared to its average volume of 1,203,896. The business has a fifty day moving average of $16.79 and a 200-day moving average of $22.39. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -5.44 and a beta of 0.75. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued 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, equities analysts expect that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

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.