Tejara Capital Ltd Takes $919,000 Position in Immunovant, Inc. $IMVT

Key Points

• Tejara Capital Ltd has acquired a new position in Immunovant, Inc., purchasing 53,790 shares valued at approximately $919,000.
• Several institutional investors have increased their stakes in Immunovant, with T. Rowe Price boosting its holdings by 53.6% in the last quarter.
• Immunovant's stock has seen various price target adjustments, with analysts setting targets ranging from $18.00 to $37.00, reflecting mixed sentiment in the market.

Tejara Capital Ltd bought a new position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,790 shares of the company's stock, valued at approximately $919,000.

Other institutional investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in Immunovant during the 1st quarter valued at about $34,000. Headlands Technologies LLC purchased a new stake in Immunovant during the 1st quarter valued at $51,000. Covestor Ltd boosted its position in Immunovant by 187.5% during the 1st 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 period. Caitong International Asset Management Co. Ltd boosted its position in Immunovant by 256.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,979 shares of the company's stock valued at $68,000 after buying an additional 2,863 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in Immunovant during the 4th quarter valued at $76,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMVT has been the subject of a number of analyst reports. Bank of America dropped their target price on shares of Immunovant from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. UBS Group raised their price target on Immunovant from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. dropped their target price on shares of Immunovant from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. The Goldman Sachs Group upgraded shares of Immunovant to a "hold" rating and set a $18.00 price objective for the company in a report on Thursday, July 10th. Finally, Citigroup restated a "buy" rating on shares of Immunovant in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.20.

Immunovant Stock Performance

Shares of IMVT stock remained flat at $14.82 during mid-day trading on Wednesday. The stock had a trading volume of 1,558,554 shares, compared to its average volume of 1,350,882. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47. The company has a 50-day moving average of $16.41 and a 200-day moving average of $16.79. The firm has a market capitalization of $2.58 billion, a PE ratio of -5.20 and a beta of 0.66.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. During the same period in the previous year, the firm posted ($0.60) earnings per share. As a group, equities research analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insider Activity at Immunovant

In other news, insider Michael Geffner sold 2,385 shares of the business's 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jay S. Stout sold 2,805 shares of the business's 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 $50,910.75. Following 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 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. 1.80% of the stock is owned by corporate insiders.

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.