Zurcher Kantonalbank Zurich Cantonalbank Has $437,000 Stock Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Immunovant, Inc. (NASDAQ:IMVT) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,370 shares of the company’s stock after purchasing an additional 951 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Immunovant were worth $437,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IMVT. China Universal Asset Management Co. Ltd. boosted its stake in shares of Immunovant by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after acquiring an additional 1,651 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Immunovant during the third quarter worth about $230,000. Allspring Global Investments Holdings LLC boosted its holdings in Immunovant by 56.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company’s stock valued at $238,000 after purchasing an additional 2,228 shares during the period. Bailard Inc. bought a new stake in Immunovant in the 3rd quarter valued at about $242,000. Finally, Quantbot Technologies LP bought a new position in shares of Immunovant during the third quarter worth approximately $257,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Immunovant

In other news, insider Mark S. Levine sold 2,134 shares of Immunovant stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $77,144.10. Following the transaction, the insider now owns 301,968 shares in the company, valued at $10,916,143.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Mark S. Levine sold 2,134 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total transaction of $77,144.10. Following the completion of the transaction, the insider now directly owns 301,968 shares in the company, valued at $10,916,143.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eva Renee Barnett sold 2,930 shares of Immunovant stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $105,919.50. Following the completion of the transaction, the chief financial officer now directly owns 320,420 shares in the company, valued at $11,583,183. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,560 shares of company stock worth $2,424,601. 4.80% of the stock is currently owned by company insiders.

Immunovant Stock Up 0.3 %

Shares of IMVT opened at $28.86 on Friday. The stock has a market cap of $4.19 billion, a PE ratio of -15.68 and a beta of 0.70. Immunovant, Inc. has a 12-month low of $17.53 and a 12-month high of $45.58. The business has a 50-day simple moving average of $31.40 and a two-hundred day simple moving average of $35.56.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.07. On average, equities research analysts expect that Immunovant, Inc. will post -1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IMVT. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. The Goldman Sachs Group began coverage on Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price target for the company. Wolfe Research initiated coverage on shares of Immunovant in a research note on Thursday, February 15th. They set an “outperform” rating and a $55.00 price objective on the stock. Oppenheimer assumed coverage on shares of Immunovant in a research report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Truist Financial reiterated a “buy” rating and set a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $48.00.

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.