Jump Financial LLC Raises Stock Holdings in Immunovant, Inc. $IMVT

Key Points

• Jump Financial LLC increased its holdings in Immunovant, Inc. by 54.9% in the first quarter, owning 200,835 shares valued at approximately $3.43 million at the end of the reporting period.
• Immunovant reported an earnings per share (EPS) of ($0.60), exceeding the consensus estimate of ($0.69) for the quarter ending August 11th.
• Analysts have set varied price targets for Immunovant, with JPMorgan cutting its target from $40.00 to $37.00 while Bank of America lowered it from $33.00 to $30.00, reflecting differing views on the stock's performance.

Jump Financial LLC boosted its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 54.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,835 shares of the company's stock after acquiring an additional 71,167 shares during the period. Jump Financial LLC owned 0.12% of Immunovant worth $3,432,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IMVT. 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. Headlands Technologies LLC bought a new stake in Immunovant in the first quarter valued at $51,000. Covestor Ltd boosted its holdings 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 acquiring an additional 2,455 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Immunovant by 256.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,979 shares of the company's stock valued at $68,000 after acquiring an additional 2,863 shares in the last quarter. Institutional investors own 47.08% of the company's stock.

Immunovant Trading Down 2.3%

Shares of IMVT stock opened at $14.89 on Tuesday. The company's fifty day moving average price is $16.37 and its 200-day moving average price is $16.60. The stock has a market cap of $2.60 billion, a PE ratio of -5.22 and a beta of 0.66. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly 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 period in the previous year, the business posted ($0.60) earnings per share. On average, sell-side analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on IMVT shares. JPMorgan Chase & Co. cut their price target on shares of Immunovant from $40.00 to $37.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Bank of America cut their price target on shares of Immunovant from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. The Goldman Sachs Group upgraded shares of Immunovant to a "hold" rating and set a $18.00 price target on the stock in a report on Thursday, July 10th. Citigroup restated a "buy" rating on shares of Immunovant in a report on Monday, August 11th. Finally, UBS Group boosted their target price on shares of Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.20.

Insider Activity

In other news, CTO Jay S. Stout sold 2,805 shares of Immunovant stock in a transaction dated Wednesday, July 23rd. The stock was 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 owned 204,919 shares of the company's stock, valued at $3,719,279.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Geffner sold 2,385 shares of Immunovant stock in a transaction dated 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 approximately $4,026,123.75. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,869 shares of company stock valued at $140,384. 1.80% of the stock is owned by 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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