Immunovant, Inc. (NASDAQ:IMVT) Stake Boosted by Baker BROS. Advisors LP

Baker BROS. Advisors LP boosted its position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 39.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,707,881 shares of the company's stock after buying an additional 482,471 shares during the quarter. Immunovant makes up about 0.5% of Baker BROS. Advisors LP's holdings, making the stock its 28th largest position. Baker BROS. Advisors LP owned about 1.01% of Immunovant worth $42,304,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. KBC Group NV lifted its stake in Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares during the last quarter. Rhumbline Advisers lifted its holdings in Immunovant by 1.5% in the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock worth $2,005,000 after buying an additional 1,188 shares during the period. Swiss National Bank grew its position in shares of Immunovant by 1.2% in the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after buying an additional 1,200 shares during the last quarter. Sei Investments Co. increased its stake in shares of Immunovant by 4.0% during the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock valued at $1,002,000 after buying an additional 1,541 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Immunovant by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 35,648 shares of the company's stock worth $883,000 after acquiring an additional 2,040 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Immunovant Stock Down 0.8 %

IMVT traded down $0.12 on Friday, reaching $14.18. The company's stock had a trading volume of 640,336 shares, compared to its average volume of 1,209,598. The stock has a 50 day moving average of $16.57 and a two-hundred day moving average of $22.22. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -5.41 and a beta of 0.75. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings data 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, analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Peter Salzmann sold 28,094 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the sale, the chief executive officer now directly owns 1,186,512 shares of the company's stock, valued at $15,412,790.88. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 91,913 shares in the company, valued at approximately $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. Insiders have sold a total of 51,682 shares of company stock valued at $753,419 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on IMVT. Jefferies Financial Group began coverage on Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price for the company. 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 research note on Thursday, March 20th. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.33.

About Immunovant

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.