Assenagon Asset Management S.A. Takes $5.11 Million Position in Immunovant, Inc. (NASDAQ:IMVT)

Assenagon Asset Management S.A. purchased a new stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 121,268 shares of the company's stock, valued at approximately $5,109,000. Assenagon Asset Management S.A. owned 0.08% of Immunovant as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC grew its position in Immunovant by 47.5% in the third quarter. FMR LLC now owns 7,748,546 shares of the company's stock valued at $297,467,000 after acquiring an additional 2,494,678 shares in the last quarter. Vanguard Group Inc. grew its position in Immunovant by 14.0% in the third quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company's stock valued at $239,290,000 after acquiring an additional 764,530 shares in the last quarter. BlackRock Inc. grew its position in Immunovant by 6.7% in the second quarter. BlackRock Inc. now owns 4,201,314 shares of the company's stock valued at $79,699,000 after acquiring an additional 264,133 shares in the last quarter. State Street Corp grew its position in Immunovant by 27.5% in the first quarter. State Street Corp now owns 3,967,605 shares of the company's stock valued at $61,538,000 after acquiring an additional 854,662 shares in the last quarter. Finally, Perceptive Advisors LLC grew its position in Immunovant by 95.4% in the second quarter. Perceptive Advisors LLC now owns 2,523,783 shares of the company's stock valued at $47,876,000 after acquiring an additional 1,231,925 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Immunovant Price Performance

Shares of NASDAQ IMVT traded down $0.70 during midday trading on Monday, reaching $31.61. 904,006 shares of the company traded hands, compared to its average volume of 1,267,594. The stock has a 50-day moving average price of $35.07 and a 200 day moving average price of $35.91. Immunovant, Inc. has a 52 week low of $14.05 and a 52 week high of $45.58. The company has a market cap of $4.59 billion, a price-to-earnings ratio of -17.56 and a beta of 0.65.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. As a group, analysts expect that Immunovant, Inc. will post -1.7 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $41.83, for a total value of $147,032.45. Following the transaction, the chief financial officer now owns 323,350 shares of the company's stock, valued at approximately $13,525,730.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Eva Renee Barnett sold 3,515 shares of Immunovant stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $41.83, for a total value of $147,032.45. Following the transaction, the chief financial officer now owns 323,350 shares of the company's stock, valued at approximately $13,525,730.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark S. Levine sold 2,134 shares of Immunovant stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the transaction, the insider now directly owns 301,968 shares in the company, valued at approximately $10,916,143.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,151 shares of company stock worth $659,896. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial reissued a "buy" rating and set a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. Wolfe Research assumed coverage on shares of Immunovant in a research report on Thursday, February 15th. They set an "outperform" rating and a $55.00 price target for the company. HC Wainwright raised their price target on shares of Immunovant from $47.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, December 21st. Oppenheimer started coverage on shares of Immunovant in a research report on Thursday. They set an "outperform" rating and a $50.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Immunovant in a report on Tuesday, December 12th. They issued a "buy" rating and a $50.00 price objective for the company. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant currently has a consensus rating of "Buy" and a consensus price target of $48.00.

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.