Vestal Point Capital LP Buys New Position in Immunovant, Inc. (NASDAQ:IMVT)

Vestal Point Capital LP bought a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 45,000 shares of the company's stock, valued at approximately $1,115,000.

Other large investors have also made changes to their positions in the company. KBC Group NV raised its stake in shares of Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after buying an additional 1,163 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Immunovant during the 4th quarter worth approximately $221,000. KLP Kapitalforvaltning AS acquired a new position in shares of Immunovant during the 4th quarter worth approximately $268,000. Aigen Investment Management LP acquired a new position in shares of Immunovant during the 4th quarter worth approximately $270,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Immunovant during the 4th quarter worth approximately $270,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Immunovant

In other news, CTO Jay S. Stout sold 1,925 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $28,470.75. Following the completion of the transaction, the chief technology officer now directly owns 209,243 shares in the company, valued at approximately $3,094,703.97. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the transaction, the chief executive officer now owns 1,186,512 shares of the company's stock, valued at approximately $15,412,790.88. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,682 shares of company stock worth $753,419. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on IMVT. HC Wainwright reissued a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. UBS Group reissued a "neutral" rating and issued a $17.00 price objective (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Jefferies Financial Group began coverage on Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price objective for the company. Finally, Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Trading Down 0.7%

NASDAQ:IMVT traded down $0.10 during trading hours on Friday, hitting $14.46. The company had a trading volume of 754,314 shares, compared to its average volume of 1,222,308. The company has a 50-day moving average of $15.46 and a 200 day moving average of $21.05. The company has a market cap of $2.46 billion, a P/E ratio of -5.52 and a beta of 0.75. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47.

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.