EFG Asset Management North America Corp. Has $2.23 Million Stock Holdings in Immunovant, Inc. $IMVT

Key Points

• EFG Asset Management North America Corp. increased its stake in Immunovant, Inc. by 76.2%, acquiring 56,375 shares and totaling 130,356 shares held.
• Immunovant recently reported quarterly earnings of ($0.60) earnings per share, surpassing the consensus estimate of ($0.69) by $0.09.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $33.60, despite a recent decrease in share price by 3.5%.

EFG Asset Management North America Corp. increased its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 76.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,356 shares of the company's stock after purchasing an additional 56,375 shares during the quarter. EFG Asset Management North America Corp. owned 0.08% of Immunovant worth $2,226,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Immunovant by 21.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,928 shares of the company's stock valued at $109,000 after acquiring an additional 1,037 shares in the last quarter. Banque Pictet & Cie SA lifted its stake in Immunovant by 1.3% in the first quarter. Banque Pictet & Cie SA now owns 147,397 shares of the company's stock valued at $2,519,000 after buying an additional 1,917 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Immunovant in the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Immunovant in the first quarter valued at $37,000. Finally, Covestor Ltd lifted its stake in Immunovant by 187.5% in the first quarter. Covestor Ltd now owns 3,764 shares of the company's stock valued at $64,000 after buying an additional 2,455 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IMVT shares. The Goldman Sachs Group raised Immunovant to a "hold" rating and set a $18.00 target price on the stock in a report on Thursday, July 10th. Citigroup restated a "buy" rating on shares of Immunovant in a research report on Monday, August 11th. JPMorgan Chase & Co. decreased their price objective on Immunovant from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. UBS Group lifted their price target on Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Bank of America reduced their price target on Immunovant from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Insider Activity at Immunovant

In other Immunovant news, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total value of $43,287.75. Following the completion of the transaction, the insider directly owned 221,825 shares of the company's stock, valued at $4,026,123.75. The trade was a 1.06% decrease in their position. 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 2,805 shares of Immunovant stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.15, for a total value of $50,910.75. Following the completion of the transaction, the chief technology officer directly owned 204,919 shares of the company's stock, valued at $3,719,279.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,869 shares of company stock valued at $140,384 over the last three months. Insiders own 1.80% of the company's stock.

Immunovant Trading Down 0.4%

Shares of IMVT traded down $0.06 during trading hours on Wednesday, hitting $16.34. 689,738 shares of the stock traded hands, compared to its average volume of 1,466,868. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $32.10. The firm has a market capitalization of $2.85 billion, a PE ratio of -5.74 and a beta of 0.45. The business has a fifty day moving average of $16.32 and a 200-day moving average of $16.28.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.60) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.09. During the same period in the prior year, the company posted ($0.60) earnings per share. As a group, equities research analysts expect that Immunovant, Inc. will post -2.69 earnings per share 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.