Immunovant, Inc. (NASDAQ:IMVT) Shares Purchased by Two Seas Capital LP

Two Seas Capital LP raised its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 123.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,511,614 shares of the company's stock after acquiring an additional 835,000 shares during the period. Immunovant makes up approximately 2.9% of Two Seas Capital LP's investment portfolio, making the stock its 9th largest position. Two Seas Capital LP owned about 0.89% of Immunovant worth $37,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV increased its holdings in shares of Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares during the period. Ameriprise Financial Inc. bought a new position in Immunovant during the 4th quarter worth $221,000. KLP Kapitalforvaltning AS bought a new position in Immunovant during the 4th quarter worth $268,000. Aigen Investment Management LP acquired a new position in Immunovant in the 4th quarter valued at $270,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Immunovant during the 4th quarter valued at $270,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Analyst Upgrades and Downgrades

IMVT has been the subject of a number of analyst reports. Bank of America dropped their price target on Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Guggenheim restated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. UBS Group reissued a "neutral" rating and issued a $17.00 price objective (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Stock Performance

Shares of NASDAQ:IMVT opened at $15.00 on Wednesday. The company has a fifty day moving average of $15.76 and a 200-day moving average of $21.31. The company has a market capitalization of $2.55 billion, a PE ratio of -5.73 and a beta of 0.75. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47.

Insider Activity at Immunovant

In related news, CTO Jay S. Stout sold 1,925 shares of the business'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 owns 209,243 shares of the company's stock, valued at $3,094,703.97. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the transaction, the chief executive officer now directly owns 1,186,512 shares of the company's stock, 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. Insiders have sold a total of 51,682 shares of company stock valued at $753,419 in the last 90 days. 5.90% of the stock is owned by corporate insiders.

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.

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