Occudo Quantitative Strategies LP Takes $860,000 Position in Immunovant, Inc. (NASDAQ:IMVT)

Occudo Quantitative Strategies LP purchased a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,731 shares of the company's stock, valued at approximately $860,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orbimed Advisors LLC bought a new position in Immunovant in the fourth quarter worth $1,944,000. J. Goldman & Co LP acquired a new stake in Immunovant during the fourth quarter valued at approximately $851,000. Granahan Investment Management LLC bought a new stake in shares of Immunovant in the 4th quarter valued at approximately $3,701,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Immunovant by 8.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 67,669 shares of the company's stock worth $1,676,000 after buying an additional 5,234 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Immunovant by 11.3% during the 4th quarter. Deutsche Bank AG now owns 166,472 shares of the company's stock worth $4,124,000 after buying an additional 16,903 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Immunovant

In other news, CEO Peter Salzmann sold 28,094 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at $15,412,790.88. This trade represents a 2.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the transaction, the chief financial officer now directly owns 396,774 shares in the company, valued at $5,907,964.86. The trade was a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,682 shares of company stock worth $753,419 over the last ninety days. Company insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IMVT. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Guggenheim reissued a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. UBS Group reaffirmed a "neutral" rating and set a $17.00 price objective (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. 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 company. According to MarketBeat, Immunovant currently has an average rating of "Moderate Buy" and an average target price of $38.33.

Immunovant Price Performance

Shares of NASDAQ IMVT traded up $0.06 during mid-day trading on Monday, hitting $14.52. The company's stock had a trading volume of 483,387 shares, compared to its average volume of 1,216,929. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47. The company's fifty day simple moving average is $15.92 and its 200-day simple moving average is $21.45. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -5.54 and a beta of 0.75.

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.