Knights of Columbus Asset Advisors LLC Takes $616,000 Position in Immunovant, Inc. (NASDAQ:IMVT)

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,873 shares of the company’s stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. KBC Group NV increased its stake in shares of Immunovant by 46.2% during the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after acquiring an additional 612 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Immunovant by 1.5% during the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company’s stock valued at $2,005,000 after acquiring an additional 1,188 shares during the last quarter. Swiss National Bank increased its stake in shares of Immunovant by 1.2% during the 4th quarter. Swiss National Bank now owns 100,800 shares of the company’s stock valued at $2,497,000 after acquiring an additional 1,200 shares during the last quarter. Tyro Capital Management LLC increased its stake in shares of Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock valued at $7,189,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Immunovant by 4.0% during the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company’s stock valued at $1,002,000 after acquiring an additional 1,541 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insider Activity

In other news, CEO Peter Salzmann sold 5,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $123,030.50. Following the completion of the transaction, the chief executive officer now directly owns 972,992 shares in the company, valued at approximately $23,449,107.20. This represents a 0.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eva Renee Barnett sold 4,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the transaction, the chief financial officer now owns 327,064 shares of the company’s stock, valued at approximately $7,882,242.40. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,510 shares of company stock worth $813,686. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IMVT has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Immunovant in a research note on Monday, March 3rd. They set a “hold” rating and a $20.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Wednesday. Guggenheim reissued a “buy” rating on shares of Immunovant in a research report on Thursday. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company dropped their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $41.70.

Immunovant Stock Down 0.3 %

Shares of NASDAQ:IMVT opened at $19.64 on Friday. Immunovant, Inc. has a 52-week low of $17.01 and a 52-week high of $34.47. The company has a 50 day moving average of $20.86 and a two-hundred day moving average of $25.68. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -7.50 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, equities analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

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.