Aigen Investment Management LP Invests $270,000 in Immunovant, Inc. (NASDAQ:IMVT)

Aigen Investment Management LP acquired a new position in Immunovant, Inc. (NASDAQ:IMVT) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,898 shares of the company’s stock, valued at approximately $270,000.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Immunovant by 19.6% in the 3rd quarter. FMR LLC now owns 12,537,571 shares of the company’s stock worth $357,446,000 after acquiring an additional 2,053,688 shares during the last quarter. State Street Corp increased its stake in Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company’s stock worth $86,167,000 after buying an additional 303,386 shares during the period. Geode Capital Management LLC increased its stake in 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 buying an additional 96,924 shares during the period. Baker BROS. Advisors LP increased its stake in Immunovant by 163.7% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock worth $34,936,000 after buying an additional 760,692 shares during the period. Finally, Principal Financial Group Inc. increased 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 worth $27,117,000 after buying an additional 391,436 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IMVT. Guggenheim cut their target price on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company cut their target price on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Friday, February 7th. Finally, 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 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.55.

Immunovant Trading Up 2.6 %

Shares of NASDAQ:IMVT opened at $20.02 on Friday. Immunovant, Inc. has a 52 week low of $17.65 and a 52 week high of $35.97. The company’s 50 day moving average is $21.85 and its two-hundred day moving average is $26.52. The company has a market cap of $3.40 billion, a PE ratio of -7.64 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). As a group, equities research analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Activity at Immunovant

In related news, CEO Peter Salzmann sold 5,105 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $123,030.50. Following the transaction, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at $23,449,107.20. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Geffner sold 2,657 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the completion of the transaction, the insider now directly owns 132,314 shares in the company, valued at $3,121,287.26. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,510 shares of company stock valued at $656,886 in the last ninety days. Insiders own 5.90% of the company’s stock.

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.