Swiss National Bank Has $2.25 Million Stock Position in Immunovant, Inc. $IMVT

Key Points

• Swiss National Bank increased its stake in Immunovant, Inc. by 30.6%, acquiring an additional 30,800 shares during the first quarter, bringing its total ownership to 131,600 shares valued at approximately $2.25 million.
• Multiple insider sales occurred, including the sale of 2,385 shares by insider Michael Geffner and 2,805 shares by CTO Jay S. Stout, with both transactions priced at $18.15 per share.
• Current analyst ratings show a consensus of Moderate Buy for Immunovant, with price targets ranging from $17.00 to $40.00, reflecting various assessments of the stock's potential.

Swiss National Bank boosted its stake in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 30.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 131,600 shares of the company's stock after buying an additional 30,800 shares during the period. Swiss National Bank owned approximately 0.08% of Immunovant worth $2,249,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IMVT. FNY Investment Advisers LLC acquired a new stake in shares of Immunovant in the first quarter valued at approximately $34,000. Headlands Technologies LLC acquired a new stake in shares of Immunovant in the first quarter valued at approximately $51,000. GF Fund Management CO. LTD. acquired a new stake in shares of Immunovant in the fourth quarter valued at approximately $76,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 purchasing an additional 1,037 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Immunovant in the fourth quarter valued at approximately $221,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Immunovant news, 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 transaction 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. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the insider directly owned 221,825 shares of the company's stock, valued at $4,026,123.75. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,869 shares of company stock valued at $140,384. Company insiders own 1.80% of the company's stock.

Immunovant Trading Down 2.3%

IMVT stock traded down $0.35 during midday trading on Monday, reaching $14.89. 955,850 shares of the company were exchanged, compared to its average volume of 1,195,242. The business has a 50-day moving average price of $16.38 and a two-hundred day moving average price of $16.64. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47.

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, topping analysts' consensus estimates of ($0.69) by $0.09. During the same quarter in the prior year, the firm earned ($0.60) EPS. Equities analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IMVT shares. JPMorgan Chase & Co. lowered their price objective 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. The Goldman Sachs Group upgraded shares of Immunovant to a "hold" rating and set a $18.00 price objective on the stock in a report on Thursday, July 10th. UBS Group lifted their price objective on shares of Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Bank of America lowered their price objective 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. Finally, Citigroup reissued a "buy" rating on shares of Immunovant in a research note on Monday, August 11th. One investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.20.

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.