B. Metzler seel. Sohn & Co. Holding AG Invests $517,000 in Immunovant, Inc. (NASDAQ:IMVT)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Immunovant, Inc. (NASDAQ:IMVT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,136 shares of the company’s stock, valued at approximately $517,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings 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 during the last quarter. Quest Partners LLC increased its position in Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after buying an additional 1,786 shares during the period. Headlands Technologies LLC acquired a new position in Immunovant during the second quarter worth approximately $77,000. Assetmark Inc. increased its position in Immunovant by 73.8% during the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after buying an additional 1,228 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after acquiring an additional 934 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Immunovant

In related news, CFO Eva Renee Barnett sold 5,162 shares of Immunovant stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $152,588.72. Following the completion of the transaction, the chief financial officer now directly owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Jay S. Stout sold 2,740 shares of the business’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 $80,912.20. Following the sale, the chief technology officer now owns 142,186 shares in the company, valued at approximately $4,198,752.58. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,659 shares of company stock worth $2,096,890 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Immunovant Trading Up 1.2 %

Shares of IMVT stock opened at $26.87 on Monday. Immunovant, Inc. has a 12-month low of $24.61 and a 12-month high of $45.58. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -12.10 and a beta of 0.66. The stock has a 50 day simple moving average of $29.08 and a 200-day simple moving average of $28.90.

Immunovant (NASDAQ:IMVT) last released its earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the prior year, the business earned ($0.45) earnings per share. On average, equities analysts forecast that Immunovant, Inc. will post -2.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Immunovant

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.