Fmr LLC Purchases 560,344 Shares of Immunovant, Inc. (NASDAQ:IMVT)

FMR LLC raised its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,097,915 shares of the company's stock after purchasing an additional 560,344 shares during the quarter. FMR LLC owned about 7.71% of Immunovant worth $324,435,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Immunovant by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 28,063 shares of the company's stock valued at $695,000 after buying an additional 9,349 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Immunovant in the 4th quarter worth approximately $724,000. Geode Capital Management LLC lifted its stake in Immunovant by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,515,020 shares of the company's stock valued at $37,536,000 after purchasing an additional 4,094 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Immunovant by 5.9% during the fourth quarter. Alliancebernstein L.P. now owns 74,850 shares of the company's stock worth $1,854,000 after buying an additional 4,200 shares in the last quarter. Finally, Norges Bank acquired a new position in Immunovant in the fourth quarter worth approximately $15,802,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Stock Down 4.1 %

Shares of IMVT traded down $0.63 during mid-day trading on Wednesday, hitting $14.84. 214,284 shares of the company's stock were exchanged, compared to its average volume of 1,654,866. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -5.66 and a beta of 0.81. The firm has a fifty day moving average of $18.33 and a two-hundred day moving average of $23.89. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, equities analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insider Activity at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total transaction of $364,941.06. Following the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at $15,412,790.88. This trade represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now owns 91,913 shares of the company's stock, valued at $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,946 shares of company stock valued at $636,200. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

IMVT has been the subject of several research reports. Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Jefferies Financial Group assumed coverage on Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective on the stock. Cantor Fitzgerald raised Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Guggenheim reiterated a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Finally, Bank of America decreased their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant presently has an average rating of "Buy" and an average target price of $41.00.

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.