RTW Investments LP Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

RTW Investments LP acquired a new stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 530,614 shares of the company's stock, valued at approximately $13,143,000. RTW Investments LP owned about 0.31% of Immunovant at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its position in Immunovant by 53.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after acquiring an additional 1,786,217 shares during the last quarter. Deep Track Capital LP grew its holdings in shares of Immunovant by 38.0% during the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock worth $148,620,000 after purchasing an additional 1,652,536 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Immunovant by 405.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company's stock valued at $28,568,000 after buying an additional 925,081 shares during the period. Two Seas Capital LP increased its stake in shares of Immunovant by 123.4% in the fourth quarter. Two Seas Capital LP now owns 1,511,614 shares of the company's stock valued at $37,443,000 after buying an additional 835,000 shares during the period. Finally, Boxer Capital Management LLC bought a new position in Immunovant in the 4th quarter valued at approximately $20,435,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Insider Buying and Selling at Immunovant

In related news, CEO Peter Salzmann sold 28,094 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the transaction, the chief executive officer now directly owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Geffner sold 2,349 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $34,741.71. Following the completion of the sale, the insider now directly owns 225,370 shares of the company's stock, valued at approximately $3,333,222.30. The trade was a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,682 shares of company stock worth $753,419 over the last 90 days. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Immunovant in a research note on Monday, March 3rd. They set a "hold" rating and a $20.00 price target for the company. UBS Group reaffirmed a "neutral" rating and issued a $17.00 price objective (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. HC Wainwright restated a "buy" rating and set a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. Guggenheim reissued a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Finally, Bank of America reduced their price target 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. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Immunovant presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Price Performance

Shares of NASDAQ IMVT traded down $0.50 during mid-day trading on Wednesday, reaching $14.51. The company's stock had a trading volume of 402,805 shares, compared to its average volume of 1,217,797. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47. The stock has a fifty day moving average of $15.76 and a two-hundred day moving average of $21.31. The firm has a market capitalization of $2.46 billion, a PE 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.