Squarepoint Ops LLC Has $1.36 Million Stock Position in Immunovant, Inc. $IMVT

Squarepoint Ops LLC grew its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 714.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 84,919 shares of the company’s stock after acquiring an additional 74,494 shares during the period. Squarepoint Ops LLC’s holdings in Immunovant were worth $1,359,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Immunovant by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company’s stock valued at $118,551,000 after purchasing an additional 257,445 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Immunovant by 11.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 626,612 shares of the company’s stock valued at $10,709,000 after buying an additional 62,170 shares during the last quarter. Swiss National Bank increased its stake in shares of Immunovant by 30.6% in the first quarter. Swiss National Bank now owns 131,600 shares of the company’s stock valued at $2,249,000 after buying an additional 30,800 shares during the period. Nuveen LLC bought a new position in shares of Immunovant during the first quarter worth about $3,999,000. Finally, Northern Trust Corp lifted its stake in shares of Immunovant by 1.8% in the first quarter. Northern Trust Corp now owns 536,622 shares of the company’s stock worth $9,171,000 after acquiring an additional 9,255 shares during the period. Institutional investors own 47.08% of the company’s stock.

Immunovant Trading Up 1.9%

NASDAQ:IMVT opened at $26.68 on Friday. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $27.69. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -9.39 and a beta of 0.56. The firm has a fifty day simple moving average of $22.68 and a two-hundred day simple moving average of $18.42.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same quarter in the previous year, the business posted ($0.74) EPS. Equities analysts predict that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 15th. Truist Financial began coverage on shares of Immunovant in a research note on Tuesday, October 14th. They set a “hold” rating and a $16.00 target price for the company. Guggenheim restated a “buy” rating and issued a $41.00 target price on shares of Immunovant in a report on Thursday. JPMorgan Chase & Co. decreased their price target on Immunovant from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Immunovant in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.63.

Insiders Place Their Bets

In related news, insider Tuyl Christopher Van sold 10,813 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $26.91, for a total value of $290,977.83. Following the transaction, the insider directly owned 149,930 shares in the company, valued at $4,034,616.30. This trade represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Melanie Gloria sold 12,626 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $23.62, for a total transaction of $298,226.12. Following the sale, the chief operating officer owned 173,511 shares of the company’s stock, valued at $4,098,329.82. This trade represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 68,660 shares of company stock valued at $1,599,001. 1.80% of the stock is currently owned by corporate insiders.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.