Immunovant, Inc. (NASDAQ:IMVT) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 7,833.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,200 shares of the company's stock after buying an additional 94,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Immunovant worth $2,358,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock worth $27,117,000 after purchasing an additional 391,436 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of Immunovant during the 4th quarter valued at about $734,000. Vanguard Group Inc. increased its stake in shares of Immunovant by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock valued at $165,449,000 after purchasing an additional 20,614 shares in the last quarter. Rhumbline Advisers raised its holdings 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 period. Finally, Sei Investments Co. boosted its position in Immunovant by 4.0% during the fourth 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. Hedge funds and other institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

IMVT has been the subject of several research analyst reports. UBS Group reaffirmed a "neutral" rating and set a $17.00 target price (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Bank of America lowered their price objective on Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Finally, Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Stock Up 2.0 %

Shares of Immunovant stock traded up $0.31 during mid-day trading on Tuesday, hitting $15.73. The stock had a trading volume of 332,029 shares, compared to its average volume of 1,197,028. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47. The firm has a market cap of $2.67 billion, a P/E ratio of -6.00 and a beta of 0.81. The firm has a 50-day moving average of $17.39 and a two-hundred day moving average of $22.92.

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

Insider Transactions at Immunovant

In related news, Director Andrew J. Fromkin sold 8,000 shares of Immunovant stock in a transaction that occurred on 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 transaction, the director now owns 91,913 shares in the company, valued at $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the sale, the chief executive officer now directly owns 1,186,512 shares in the company, 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. Over the last 90 days, insiders have sold 51,682 shares of company stock valued at $753,419. 5.90% of the stock is currently owned by company insiders.

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.