Immunovant, Inc. (NASDAQ:IMVT) Shares Acquired by Baker BROS. Advisors LP

Baker BROS. Advisors LP boosted its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,707,881 shares of the company's stock after acquiring an additional 482,471 shares during the quarter. Immunovant comprises about 0.5% of Baker BROS. Advisors LP's holdings, making the stock its 28th largest holding. Baker BROS. Advisors LP owned approximately 1.01% of Immunovant worth $42,304,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. KBC Group NV boosted its stake in shares of Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares during the period. Ameriprise Financial Inc. purchased a new position in Immunovant in the 4th quarter valued at about $221,000. KLP Kapitalforvaltning AS purchased a new position in Immunovant in the 4th quarter valued at about $268,000. Aigen Investment Management LP acquired a new stake in shares of Immunovant during the fourth quarter valued at about $270,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Immunovant by 138.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company's stock worth $353,000 after acquiring an additional 8,289 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Insider Activity

In other Immunovant news, Director Andrew J. Fromkin sold 8,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the transaction, the director now directly owns 91,913 shares of the company's stock, valued at $1,801,494.80. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 2,993 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $44,565.77. Following the completion of the transaction, the chief financial officer now owns 396,774 shares of the company's stock, valued at approximately $5,907,964.86. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,682 shares of company stock valued at $753,419. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IMVT. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright restated a "buy" rating and issued a $51.00 price target on shares of Immunovant in a research note on Wednesday, March 19th. Guggenheim reiterated a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Bank of America dropped their target price on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Jefferies Financial Group assumed coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Immunovant has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Immunovant Stock Down 0.6 %

Shares of NASDAQ IMVT opened at $15.80 on Friday. The firm's 50-day moving average price is $17.01 and its two-hundred day moving average price is $22.59. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47. The stock has a market capitalization of $2.68 billion, a P/E ratio of -6.03 and a beta of 0.81.

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

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.

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