Emerald Advisers LLC Has $7.13 Million Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Emerald Advisers LLC decreased its position in Immunovant, Inc. (NASDAQ:IMVT) by 13.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 250,039 shares of the company’s stock after selling 38,525 shares during the period. Emerald Advisers LLC owned about 0.17% of Immunovant worth $7,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armistice Capital LLC boosted its position in shares of Immunovant by 57.0% in the second quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after buying an additional 1,232,909 shares during the period. Vanguard Group Inc. increased its holdings in shares of Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after purchasing an additional 650,506 shares during the period. Alpine Global Management LLC lifted its position in shares of Immunovant by 34.6% in the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after purchasing an additional 484,332 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Immunovant by 16.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after purchasing an additional 259,481 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Immunovant by 198.0% during the second quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after purchasing an additional 207,003 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Trading Up 0.4 %

NASDAQ IMVT opened at $29.39 on Monday. Immunovant, Inc. has a 1 year low of $24.67 and a 1 year high of $45.58. The company has a fifty day simple moving average of $29.87 and a 200 day simple moving average of $28.91. The company has a market cap of $4.30 billion, a P/E ratio of -15.23 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last released its earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period in the previous year, the business earned ($0.57) EPS. Equities research analysts forecast that Immunovant, Inc. will post -2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IMVT shares. Oppenheimer lifted their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Raymond James restated an “outperform” rating and issued a $36.00 target price on shares of Immunovant in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered their price target on Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Immunovant in a research report on Monday, September 30th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant has a consensus rating of “Buy” and an average price target of $48.10.

Insider Buying and Selling

In other Immunovant news, insider William L. Macias sold 3,188 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $91,782.52. Following the sale, the insider now owns 365,144 shares of the company’s stock, valued at $10,512,495.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Immunovant news, insider William L. Macias sold 3,188 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $91,782.52. Following the completion of the sale, the insider now directly owns 365,144 shares of the company’s stock, valued at $10,512,495.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jay S. Stout sold 2,740 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total transaction of $80,912.20. Following the completion of the sale, the chief technology officer now owns 142,186 shares in the company, valued at $4,198,752.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,277 shares of company stock valued at $941,919. Insiders own 5.90% of the company’s stock.

Immunovant Company 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.