Immunovant, Inc. $IMVT is Two Seas Capital LP's 10th Largest Position

Key Points

• Two Seas Capital LP increased its stake in Immunovant, Inc. by 8.7% in the first quarter, now holding a total of 1,642,772 shares valued at approximately $28 million.
• Immunovant's stock price has seen a 6.3% increase, with shares opening at $17.14, and analysts projecting negative earnings per share of -$2.69 for the current year.
• A consensus rating of "Moderate Buy" is held for Immunovant, with multiple analysts adjusting their price targets, indicating varied but generally positive expectations for the stock.

Two Seas Capital LP raised its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,642,772 shares of the company's stock after acquiring an additional 131,158 shares during the quarter. Immunovant makes up 0.9% of Two Seas Capital LP's portfolio, making the stock its 10th biggest holding. Two Seas Capital LP owned approximately 0.97% of Immunovant worth $28,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in IMVT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Immunovant by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,971 shares of the company's stock worth $708,000 after purchasing an additional 3,348 shares in the last quarter. Granahan Investment Management LLC boosted its stake in shares of Immunovant by 15.3% during the 1st quarter. Granahan Investment Management LLC now owns 172,316 shares of the company's stock worth $2,945,000 after purchasing an additional 22,920 shares during the last quarter. EFG Asset Management North America Corp. grew its holdings in shares of Immunovant by 76.2% during the first quarter. EFG Asset Management North America Corp. now owns 130,356 shares of the company's stock worth $2,226,000 after buying an additional 56,375 shares in the last quarter. ADAR1 Capital Management LLC raised its position in shares of Immunovant by 23.0% in the first quarter. ADAR1 Capital Management LLC now owns 968,866 shares of the company's stock valued at $16,558,000 after buying an additional 181,388 shares during the last quarter. Finally, Vestal Point Capital LP lifted its stake in shares of Immunovant by 677.8% during the first quarter. Vestal Point Capital LP now owns 350,000 shares of the company's stock valued at $5,982,000 after buying an additional 305,000 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup reiterated a "buy" rating on shares of Immunovant in a report on Monday, August 11th. UBS Group upped their target price on Immunovant from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. The Goldman Sachs Group upgraded Immunovant to a "hold" rating and set a $18.00 target price on the stock in a research report on Thursday, July 10th. Bank of America decreased their price target on Immunovant from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of Immunovant in a report on Thursday, September 4th. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.60.

Insider Transactions at Immunovant

In other news, CTO Jay S. Stout sold 2,805 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.15, for a total transaction of $50,910.75. Following the completion of the sale, the chief technology officer owned 204,919 shares in the company, valued at approximately $3,719,279.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Geffner sold 2,385 shares of the business's 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 sale, the insider owned 221,825 shares of the company's stock, valued at $4,026,123.75. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,869 shares of company stock valued at $140,384 in the last quarter. Company insiders own 1.80% of the company's stock.

Immunovant Trading Down 2.6%

Shares of NASDAQ IMVT traded down $0.45 on Friday, reaching $16.36. 801,960 shares of the company traded hands, compared to its average volume of 1,472,111. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $32.10. The company has a 50 day moving average of $16.31 and a 200 day moving average of $16.26. The stock has a market capitalization of $2.85 billion, a PE ratio of -5.77 and a beta of 0.45.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.60) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.09. During the same quarter last year, the company posted ($0.60) EPS. As a group, research analysts expect that Immunovant, Inc. will post -2.69 earnings per share 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.