Privium Fund Management B.V. Acquires New Stake in Immunovant, Inc. (NASDAQ:IMVT)

Key Points

• Privium Fund Management B.V. has invested approximately $1.23 million in Immunovant, Inc. by acquiring 72,000 shares in the first quarter of this year.
• Immunovant's stock has a current market capitalization of $2.69 billion and has seen fluctuations with a one-year low of $12.72 and a high of $34.47.
• Analysts hold a generally positive view on Immunovant, with a consensus rating of "Moderate Buy" and a target price of $36.40, indicating a significant potential upside.

Privium Fund Management B.V. acquired a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 72,000 shares of the company's stock, valued at approximately $1,230,000.

Several other hedge funds have also modified their holdings of IMVT. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Immunovant by 66.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the company's stock worth $223,000 after purchasing an additional 5,200 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Immunovant by 19.8% during the first quarter. TD Asset Management Inc now owns 182,398 shares of the company's stock worth $3,117,000 after buying an additional 30,152 shares during the period. KLP Kapitalforvaltning AS raised its holdings in Immunovant by 73.1% in the first quarter. KLP Kapitalforvaltning AS now owns 18,700 shares of the company's stock valued at $320,000 after acquiring an additional 7,900 shares in the last quarter. Arizona State Retirement System lifted its stake in Immunovant by 31.1% in the first quarter. Arizona State Retirement System now owns 19,468 shares of the company's stock worth $333,000 after acquiring an additional 4,614 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its holdings in Immunovant by 1.3% during the 1st quarter. Banque Pictet & Cie SA now owns 147,397 shares of the company's stock worth $2,519,000 after acquiring an additional 1,917 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IMVT has been the subject of a number of recent analyst reports. UBS Group lifted their price target on Immunovant from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group upgraded shares of Immunovant to a "hold" rating and set a $18.00 price target on the stock in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Insider Transactions at Immunovant

In other news, insider Michael Geffner sold 2,385 shares of Immunovant 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 directly owned 221,825 shares in the company, valued at approximately $4,026,123.75. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jay S. Stout sold 2,805 shares of the firm's 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 owned 204,919 shares of the company's stock, valued at approximately $3,719,279.85. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,869 shares of company stock valued at $140,384. 1.80% of the stock is owned by insiders.

Immunovant Stock Down 3.3%

IMVT traded down $0.55 on Wednesday, hitting $15.96. 806,016 shares of the company traded hands, compared to its average volume of 1,483,450. The company has a 50 day moving average of $16.48 and a 200-day moving average of $17.31. Immunovant, Inc. has a 12-month low of $12.72 and a 12-month high of $34.47. The stock has a market capitalization of $2.73 billion, a PE ratio of -5.82 and a beta of 0.66.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.08. The firm had revenue of $0.16 million during the quarter. During the same quarter in the prior year, the company earned ($0.52) earnings per share. On average, research analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.

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.