Aberdeen Group plc Boosts Stock Position in Immunovant, Inc. $IMVT

Key Points

• Aberdeen Group plc increased its stake in Immunovant, Inc. by 3.1%, now owning 844,705 shares valued at $13.5 million as of its latest SEC filing.
• Immunovant shares have seen a price increase of 2.5%, with a current market price of $17.93 and a market capitalization of $3.13 billion.
• Insider trading activity includes the sale of shares by Michael Geffner and Jay S. Stout, with a total of 8,047 shares sold in the last three months.

Aberdeen Group plc lifted its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 844,705 shares of the company's stock after purchasing an additional 25,228 shares during the period. Aberdeen Group plc owned 0.49% of Immunovant worth $13,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IMVT. Baker BROS. Advisors LP lifted its holdings in Immunovant by 219.6% in the first quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company's stock worth $93,275,000 after buying an additional 3,750,000 shares during the period. Woodline Partners LP lifted its holdings in Immunovant by 133.0% in the first quarter. Woodline Partners LP now owns 1,497,869 shares of the company's stock worth $25,599,000 after buying an additional 855,143 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Immunovant by 15.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company's stock worth $100,743,000 after buying an additional 777,590 shares during the period. Alpine Global Management LLC lifted its holdings in Immunovant by 21.7% in the first quarter. Alpine Global Management LLC now owns 2,626,692 shares of the company's stock worth $44,890,000 after buying an additional 467,788 shares during the period. Finally, Affinity Asset Advisors LLC lifted its holdings in Immunovant by 330.0% in the first quarter. Affinity Asset Advisors LLC now owns 430,000 shares of the company's stock worth $7,349,000 after buying an additional 330,000 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Stock Up 2.5%

Shares of IMVT opened at $17.93 on Thursday. The company has a market capitalization of $3.13 billion, a P/E ratio of -6.29 and a beta of 0.48. The firm has a 50 day moving average of $15.82 and a 200 day moving average of $15.74. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $32.10.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.09. During the same quarter in the prior year, the company posted ($0.60) EPS. On average, sell-side analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Activity at Immunovant

In related news, insider Michael Geffner sold 2,385 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total transaction of $43,287.75. Following the completion of the sale, the insider owned 221,825 shares of the company's stock, valued at $4,026,123.75. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jay S. Stout sold 1,585 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $16.30, for a total transaction of $25,835.50. Following the sale, the chief technology officer directly owned 203,334 shares of the company's stock, valued at $3,314,344.20. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,047 shares of company stock valued at $140,768 in the last three months. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on IMVT shares. HC Wainwright restated a "buy" rating and issued a $35.00 price objective on shares of Immunovant in a report on Thursday, September 4th. Citigroup reaffirmed a "buy" rating on shares of Immunovant in a research note on Monday, August 11th. Truist Financial initiated coverage on shares of Immunovant in a research note on Tuesday. They set a "hold" rating and a $16.00 target price for the company. UBS Group raised their target price on shares of Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Bank of America decreased their target price on shares of Immunovant from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $28.78.

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.

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