WCM Investment Management LLC Has $3.81 Million Holdings in Immunovant, Inc. (NASDAQ:IMVT)

WCM Investment Management LLC decreased its position in Immunovant, Inc. (NASDAQ:IMVT) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,525 shares of the company’s stock after selling 14,459 shares during the quarter. WCM Investment Management LLC owned 0.11% of Immunovant worth $3,809,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV raised its position in Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after purchasing an additional 1,228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Immunovant during the third quarter worth $261,000. Finally, Advantage Alpha Capital Partners LP bought a new position in Immunovant in the third quarter valued at $427,000. 47.08% of the stock is currently owned by institutional investors.

Insider Transactions at Immunovant

In related news, CFO Eva Renee Barnett sold 4,174 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total value of $106,228.30. Following the sale, the chief financial officer now directly owns 331,169 shares of the company’s stock, valued at $8,428,251.05. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction on Monday, January 13th. The shares were acquired at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the purchase, the director now owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 72,892 shares of company stock valued at $1,811,857. Company insiders own 5.90% of the company’s stock.

Immunovant Trading Up 0.2 %

NASDAQ IMVT opened at $20.41 on Monday. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -7.79 and a beta of 0.65. The company has a 50 day moving average of $24.75 and a 200-day moving average of $27.79. Immunovant, Inc. has a 1-year low of $19.86 and a 1-year high of $39.55.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, equities research analysts forecast that Immunovant, Inc. will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IMVT shares. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America lowered their price target on Immunovant from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Cantor Fitzgerald upgraded shares of Immunovant to a “strong-buy” rating in a report on Thursday, January 30th. One equities research 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 company presently has an average rating of “Buy” and an average price target of $47.00.

Immunovant 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.