Knights of Columbus Asset Advisors LLC Makes New Investment in Immunovant, Inc. (NASDAQ:IMVT)

Knights of Columbus Asset Advisors LLC bought a new position in Immunovant, Inc. (NASDAQ:IMVT) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 24,873 shares of the company’s stock, valued at approximately $616,000.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV increased its position in Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares during the period. Aigen Investment Management LP acquired a new stake in Immunovant in the fourth quarter worth $270,000. Teacher Retirement System of Texas increased its position in Immunovant by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock worth $377,000 after buying an additional 2,373 shares during the period. Advantage Alpha Capital Partners LP acquired a new stake in Immunovant in the third quarter worth $427,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Immunovant during the fourth quarter valued at $505,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on IMVT. Bank of America lowered their price target on Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group began coverage on Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a report on Wednesday. Guggenheim reissued a “buy” rating on shares of Immunovant in a report on Thursday. Finally, Wolfe Research lowered Immunovant from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $41.70.

Insiders Place Their Bets

In other Immunovant news, CTO Jay S. Stout sold 2,195 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the completion of the sale, the chief technology officer now directly owns 139,991 shares in the company, valued at approximately $3,302,387.69. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter Salzmann sold 5,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total value of $123,030.50. Following the sale, the chief executive officer now owns 972,992 shares of the company’s stock, valued at $23,449,107.20. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,510 shares of company stock worth $813,686. 5.90% of the stock is currently owned by company insiders.

Immunovant Stock Down 0.3 %

NASDAQ:IMVT opened at $19.64 on Friday. The business’s 50-day moving average price is $20.86 and its 200 day moving average price is $25.68. The firm has a market cap of $3.34 billion, a P/E ratio of -7.50 and a beta of 0.68. Immunovant, Inc. has a 52-week low of $17.01 and a 52-week high of $34.47.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Sell-side analysts expect that Immunovant, Inc. will post -2.69 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.