WCM Investment Management LLC Invests $4.55 Million in Immunovant, Inc. (NASDAQ:IMVT)

WCM Investment Management LLC acquired a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 107,401 shares of the company's stock, valued at approximately $4,548,000. WCM Investment Management LLC owned 0.07% of Immunovant as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of 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 buying an additional 2,494,678 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Immunovant by 281.2% in the first quarter. Federated Hermes Inc. now owns 1,903,894 shares of the company's stock valued at $10,491,000 after buying an additional 1,404,404 shares during the last quarter. Fred Alger Management LLC raised its position in shares of Immunovant by 6,108.9% in the third quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company's stock valued at $45,532,000 after buying an additional 1,166,929 shares during the last quarter. Perceptive Advisors LLC raised its position in shares of Immunovant by 761.2% in the first quarter. Perceptive Advisors LLC now owns 1,291,858 shares of the company's stock valued at $20,037,000 after buying an additional 1,141,858 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Immunovant in the third quarter valued at about $39,767,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Price Performance

Shares of NASDAQ IMVT traded up $1.12 during midday trading on Monday, hitting $30.47. The company's stock had a trading volume of 1,199,776 shares, compared to its average volume of 1,232,375. The business's fifty day simple moving average is $33.54 and its two-hundred day simple moving average is $36.26. Immunovant, Inc. has a 1 year low of $14.59 and a 1 year high of $45.58. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -16.56 and a beta of 0.65.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings data on Monday, February 12th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Analysts anticipate that Immunovant, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IMVT. Wolfe Research assumed coverage on shares of Immunovant in a research report on Thursday, February 15th. They issued an "outperform" rating and a $55.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunovant in a report on Friday, January 12th. The Goldman Sachs Group assumed coverage on shares of Immunovant in a report on Wednesday, March 13th. They issued a "buy" rating and a $50.00 price objective for the company. Truist Financial reissued a "buy" rating and issued a $48.00 price objective on shares of Immunovant in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a report on Tuesday, February 20th. They issued an "overweight" rating and a $51.00 price objective for the company. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant presently has a consensus rating of "Buy" and a consensus target price of $48.00.

Insider Activity at Immunovant

In related news, insider Mark S. Levine sold 3,027 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $37.92, for a total value of $114,783.84. Following the sale, the insider now owns 304,102 shares of the company's stock, valued at $11,531,547.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Immunovant news, CEO Peter Salzmann sold 4,807 shares of the firm's stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the sale, the chief executive officer now owns 1,086,958 shares of the company's stock, valued at $33,891,350.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark S. Levine sold 3,027 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $37.92, for a total transaction of $114,783.84. Following the sale, the insider now directly owns 304,102 shares in the company, valued at approximately $11,531,547.84. The disclosure for this sale can be found here. Insiders have sold a total of 18,064 shares of company stock valued at $612,982 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

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.