DAFNA Capital Management LLC Raises Position in Immunovant, Inc. (NASDAQ:IMVT)

DAFNA Capital Management LLC raised its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 107.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,996 shares of the company's stock after acquiring an additional 56,000 shares during the quarter. DAFNA Capital Management LLC owned approximately 0.06% of Immunovant worth $2,675,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. KBC Group NV increased its stake in Immunovant by 60.1% in the 4th 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 last quarter. Ameriprise Financial Inc. bought a new stake in Immunovant during the fourth quarter worth about $221,000. KLP Kapitalforvaltning AS acquired a new position in Immunovant during the fourth quarter valued at approximately $268,000. Aigen Investment Management LP bought a new position in Immunovant in the fourth quarter valued at approximately $270,000. Finally, CANADA LIFE ASSURANCE Co increased its position 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 purchasing an additional 8,289 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

Immunovant Price Performance

Shares of NASDAQ IMVT traded down $0.28 during mid-day trading on Friday, hitting $14.02. 1,187,476 shares of the stock traded hands, compared to its average volume of 1,212,859. The company has a market cap of $2.38 billion, a PE ratio of -5.35 and a beta of 0.75. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $34.47. The firm has a 50 day simple moving average of $16.48 and a two-hundred day simple moving average of $22.12.

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

Insider Activity

In other news, CTO Jay S. Stout sold 1,925 shares of the company'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 $28,470.75. Following the sale, the chief technology officer now directly owns 209,243 shares of the company's stock, valued at approximately $3,094,703.97. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of Immunovant 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 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. Over the last 90 days, insiders sold 51,682 shares of company stock valued at $753,419. Insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IMVT shares. Jefferies Financial Group initiated coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. Bank of America lowered their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. UBS Group reissued a "neutral" rating and set a $17.00 price target (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Two 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

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.