Mirae Asset Global Investments Co. Ltd. Acquires 934 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 21.4% in the third quarter, HoldingsChannel reports. The fund owned 5,294 shares of the company’s stock after purchasing an additional 934 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Immunovant were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in Immunovant by 198.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock worth $8,224,000 after purchasing an additional 207,003 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after purchasing an additional 259,481 shares in the last quarter. Rubric Capital Management LP purchased a new position in Immunovant in the 2nd quarter worth approximately $1,548,000. Vanguard Group Inc. lifted its holdings in Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares in the last quarter. Finally, First Turn Management LLC lifted its holdings in Immunovant by 35.6% in the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock worth $18,359,000 after purchasing an additional 182,535 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Insider Activity at Immunovant

In related news, insider William L. Macias sold 3,188 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total transaction of $91,782.52. Following the completion of the transaction, the insider now owns 365,144 shares in the company, valued at $10,512,495.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Immunovant news, insider William L. Macias sold 3,188 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $91,782.52. Following the completion of the sale, the insider now directly owns 365,144 shares in the company, valued at approximately $10,512,495.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark S. Levine sold 4,361 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total value of $128,780.33. Following the completion of the sale, the insider now owns 322,878 shares of the company’s stock, valued at $9,534,587.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,277 shares of company stock worth $941,919 in the last quarter. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IMVT shares. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Immunovant in a report on Monday, September 30th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. UBS Group reduced their price objective on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Oppenheimer lifted their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.10.

Immunovant Stock Performance

NASDAQ IMVT opened at $29.42 on Tuesday. The company has a market cap of $4.31 billion, a P/E ratio of -15.24 and a beta of 0.66. The business’s 50 day moving average price is $29.82 and its 200-day moving average price is $28.92. Immunovant, Inc. has a fifty-two week low of $24.67 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same quarter in the prior year, the firm posted ($0.57) earnings per share. As a group, equities analysts predict that Immunovant, Inc. will post -2.41 EPS for the current year.

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.