Sciences Ltd. Roivant Purchases 16,845,010 Shares of Immunovant, Inc. (NASDAQ:IMVT) Stock

Immunovant, Inc. (NASDAQ:IMVT) Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The shares were bought at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the acquisition, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Immunovant Price Performance

Shares of IMVT opened at $24.40 on Thursday. Immunovant, Inc. has a 1-year low of $22.41 and a 1-year high of $42.44. The stock has a market cap of $3.58 billion, a PE ratio of -10.99 and a beta of 0.66. The firm has a fifty day moving average price of $26.79 and a 200 day moving average price of $28.56.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same quarter in the previous year, the business earned ($0.45) earnings per share. As a group, equities analysts expect that Immunovant, Inc. will post -2.73 EPS for the current fiscal year.

Institutional Trading of Immunovant

A number of large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after acquiring an additional 391,436 shares during the last quarter. Tyro Capital Management LLC lifted its holdings in shares of 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company’s stock valued at $43,085,000 after acquiring an additional 96,924 shares in the last quarter. State Street Corp raised its holdings in Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after purchasing an additional 303,386 shares in the last quarter. Finally, Baker BROS. Advisors LP lifted its position in Immunovant by 163.7% in the third quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after purchasing an additional 760,692 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Bank of America decreased their target price on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Raymond James reiterated an “outperform” rating and set a $36.00 target price on shares of Immunovant in a report on Thursday, October 10th. Finally, Oppenheimer lifted their price target on shares of Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.00.

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.