Immunovant, Inc. (NASDAQ:IMVT) Director Buys $336,900,200.00 in Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Sciences Ltd. Roivant purchased 16,845,010 shares of the business’s stock in a transaction on Monday, January 13th. The shares were purchased at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the acquisition, the director now directly owns 96,650,341 shares in the company, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Immunovant Trading Up 6.6 %

Shares of NASDAQ:IMVT traded up $1.52 on Wednesday, reaching $24.40. 1,818,130 shares of the company were exchanged, compared to its average volume of 973,264. Immunovant, Inc. has a 1-year low of $22.41 and a 1-year high of $42.44. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -10.99 and a beta of 0.66. The company has a 50-day moving average of $26.79 and a 200-day moving average of $28.56.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the previous year, the firm earned ($0.45) earnings per share. As a group, analysts forecast that Immunovant, Inc. will post -2.73 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on IMVT shares. Oppenheimer upped their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Finally, Bank of America dropped their target price on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of IMVT. KBC Group NV lifted its position in shares of Immunovant by 46.2% during the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after purchasing an additional 612 shares in the last quarter. Quest Partners LLC lifted its stake in Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares during the last quarter. Headlands Technologies LLC bought a new position in Immunovant in the 2nd quarter worth approximately $77,000. Assetmark Inc. increased its stake in Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after buying an additional 934 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Immunovant Company 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.