DAFNA Capital Management LLC Purchases 62,000 Shares of Immunovant, Inc. $IMVT

Key Points

• DAFNA Capital Management LLC increased its stake in Immunovant, Inc. by 57.4% during Q1, owning a total of 169,996 shares valued at approximately $2.9 million.
• Immunovant's stock has a current market cap of $2.56 billion and recently reported earnings of ($0.60) per share, exceeding analysts' expectations.
• Wall Street analysts have mixed ratings on Immunovant, with a consensus rating of "Moderate Buy" and an average price target of $35.20.

DAFNA Capital Management LLC increased its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 57.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169,996 shares of the company's stock after purchasing an additional 62,000 shares during the quarter. DAFNA Capital Management LLC owned approximately 0.10% of Immunovant worth $2,905,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IMVT. Deep Track Capital LP raised its holdings in shares of Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock worth $148,620,000 after purchasing an additional 1,652,536 shares during the period. Two Seas Capital LP raised its holdings in shares of Immunovant by 123.4% in the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company's stock worth $37,443,000 after purchasing an additional 835,000 shares during the period. Boxer Capital Management LLC bought a new stake in shares of Immunovant in the 4th quarter worth approximately $20,435,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Immunovant by 15.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company's stock worth $100,743,000 after purchasing an additional 777,590 shares during the period. Finally, RTW Investments LP bought a new stake in shares of Immunovant in the 4th quarter worth approximately $13,143,000. Institutional investors own 47.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IMVT shares. UBS Group lifted their price target on shares of Immunovant from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. JPMorgan Chase & Co. dropped their target price on Immunovant from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Citigroup restated a "buy" rating on shares of Immunovant in a research report on Monday, August 11th. Bank of America dropped their target price on Immunovant from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, The Goldman Sachs Group upgraded Immunovant to a "hold" rating and set a $18.00 target price on the stock in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.20.

Immunovant Stock Up 2.6%

Shares of IMVT traded up $0.38 during mid-day trading on Tuesday, reaching $15.07. 1,344,844 shares of the stock traded hands, compared to its average volume of 1,084,479. The firm has a fifty day moving average price of $16.29 and a 200 day moving average price of $16.44. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.09. During the same quarter in the previous year, the business earned ($0.60) earnings per share. Equities research analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Activity

In other Immunovant news, CTO Jay S. Stout sold 2,805 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total transaction of $50,910.75. Following the completion of the sale, the chief technology officer directly owned 204,919 shares in the company, valued at $3,719,279.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Geffner sold 2,385 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total transaction of $43,287.75. Following the sale, the insider owned 221,825 shares of the company's stock, valued at approximately $4,026,123.75. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,869 shares of company stock valued at $140,384. Company insiders own 1.80% of the company's stock.

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.