Emerald Advisers LLC Decreases Stock Position in Immunovant, Inc. (NASDAQ:IMVT)

Emerald Advisers LLC trimmed its position in Immunovant, Inc. (NASDAQ:IMVT) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,558 shares of the company’s stock after selling 5,481 shares during the quarter. Emerald Advisers LLC owned about 0.14% of Immunovant worth $6,058,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC increased its position in shares of Immunovant by 19.6% in 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 in the last quarter. Baker BROS. Advisors LP grew its stake in Immunovant by 163.7% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,225,410 shares of the company’s stock valued at $34,936,000 after acquiring an additional 760,692 shares during the period. Principal Financial Group Inc. increased its holdings in Immunovant by 69.9% in the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after acquiring an additional 391,436 shares in the last quarter. State Street Corp lifted its holdings in Immunovant by 11.2% during the third quarter. State Street Corp now owns 3,022,342 shares of the company’s stock valued at $86,167,000 after purchasing an additional 303,386 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 96,924 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IMVT has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America reduced their target price on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $41.70.

Immunovant Trading Down 0.3 %

Shares of Immunovant stock opened at $19.64 on Friday. The company has a fifty day moving average price of $20.86 and a 200 day moving average price of $25.68. Immunovant, Inc. has a twelve month low of $17.01 and a twelve month high of $34.47. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -7.50 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). Analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Insider Buying and Selling at Immunovant

In related news, CTO Jay S. Stout sold 2,195 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total value of $51,780.05. Following the completion of the transaction, the chief technology officer now directly owns 139,991 shares of the company’s stock, valued at $3,302,387.69. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter Salzmann sold 5,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total transaction of $123,030.50. Following the transaction, the chief executive officer now owns 972,992 shares in the company, valued at $23,449,107.20. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,510 shares of company stock worth $813,686 over the last quarter. 5.90% of the stock is owned by corporate insiders.

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.