Hood River Capital Management LLC Raises Stock Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Hood River Capital Management LLC boosted its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,145,618 shares of the company’s stock after buying an additional 2,051 shares during the quarter. Hood River Capital Management LLC owned 0.67% of Immunovant worth $28,377,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IMVT. Geode Capital Management LLC boosted its position in shares of Immunovant by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock worth $43,085,000 after purchasing an additional 96,924 shares during the period. Tyro Capital Management LLC lifted its stake in Immunovant by 0.6% during the third quarter. Tyro Capital Management LLC now owns 252,149 shares of the company’s stock worth $7,189,000 after purchasing an additional 1,529 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after buying an additional 391,436 shares during the period. KBC Group NV grew its stake in shares of Immunovant by 60.1% in the fourth quarter. KBC Group NV now owns 3,099 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Immunovant by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,124 shares of the company’s stock valued at $771,000 after buying an additional 2,973 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Immunovant news, Director Andrew J. Fromkin sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now directly owns 91,913 shares of the company’s stock, valued at $1,801,494.80. This represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of Immunovant stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at $15,412,790.88. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,408 shares of company stock valued at $690,207. Insiders own 5.90% of the company’s stock.

Immunovant Price Performance

NASDAQ IMVT opened at $14.25 on Wednesday. The company has a fifty day moving average of $17.84 and a two-hundred day moving average of $23.38. The company has a market capitalization of $2.42 billion, a PE ratio of -5.44 and a beta of 0.81. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, research analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IMVT shares. Bank of America cut their price target on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Jefferies Financial Group began coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Guggenheim reissued a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Finally, Wolfe Research downgraded shares of Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

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.