Tyro Capital Management LLC Boosts Stake in Immunovant, Inc. (NASDAQ:IMVT)

Tyro Capital Management LLC lifted its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,149 shares of the company’s stock after buying an additional 1,529 shares during the period. Immunovant comprises 2.3% of Tyro Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Tyro Capital Management LLC owned 0.17% of Immunovant worth $7,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its holdings in shares of Immunovant by 19.6% during the third quarter. FMR LLC now owns 12,537,571 shares of the company’s stock valued at $357,446,000 after buying an additional 2,053,688 shares during the last quarter. Armistice Capital LLC increased its position in Immunovant by 57.0% during the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock valued at $89,678,000 after acquiring an additional 1,232,909 shares during the last quarter. State Street Corp lifted its stake in Immunovant by 11.2% in 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of Immunovant by 6.9% during 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. Finally, Baker BROS. Advisors LP grew its position in shares of 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 in the last quarter. 47.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider William L. Macias sold 3,188 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $91,782.52. Following the sale, the insider now directly owns 365,144 shares in the company, valued at $10,512,495.76. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Salzmann sold 4,460 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $131,837.60. Following the transaction, the chief executive officer now directly owns 1,003,884 shares of the company’s stock, valued at $29,674,811.04. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,659 shares of company stock worth $2,096,890. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Raymond James reissued an “outperform” rating and set a $36.00 target price on shares of Immunovant in a research report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Oppenheimer increased their price target on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $47.89.

Immunovant Trading Down 4.5 %

Shares of Immunovant stock opened at $27.59 on Friday. Immunovant, Inc. has a 52 week low of $24.61 and a 52 week high of $45.58. The firm’s 50 day moving average is $28.93 and its two-hundred day moving average is $28.75.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same quarter in the prior year, the business posted ($0.45) EPS. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.73 EPS for the current year.

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.