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

Emerald Advisers LLC decreased its holdings in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 250,039 shares of the company's stock after selling 38,525 shares during the period. Emerald Advisers LLC owned approximately 0.17% of Immunovant worth $7,129,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its holdings in shares of Immunovant by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 28,151 shares of the company's stock worth $803,000 after buying an additional 10,991 shares during the last quarter. abrdn plc increased its holdings in shares of Immunovant by 19.5% during the 3rd quarter. abrdn plc now owns 478,757 shares of the company's stock worth $13,649,000 after buying an additional 78,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company's stock worth $148,000 after buying an additional 934 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Immunovant during the 3rd quarter worth approximately $261,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Immunovant by 53.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 27,122 shares of the company's stock worth $773,000 after buying an additional 9,438 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Insider Buying and Selling at Immunovant

In other Immunovant news, insider William L. Macias sold 3,188 shares of Immunovant 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 transaction, the insider now directly owns 365,144 shares in the company, valued at approximately $10,512,495.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $91,782.52. Following the transaction, the insider now directly owns 365,144 shares in the company, valued at $10,512,495.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Salzmann sold 4,460 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total transaction of $131,837.60. Following the transaction, the chief executive officer now owns 1,003,884 shares in the company, valued at approximately $29,674,811.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,277 shares of company stock worth $941,919. 5.90% of the stock is owned by company insiders.

Immunovant Price Performance

Shares of Immunovant stock traded up $0.03 during trading on Monday, hitting $29.42. 849,964 shares of the stock were exchanged, compared to its average volume of 1,084,458. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of -15.24 and a beta of 0.66. The firm's 50-day moving average price is $29.82 and its 200 day moving average price is $28.92. Immunovant, Inc. has a 12-month low of $24.67 and a 12-month high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.07). During the same period in the previous year, the business posted ($0.57) EPS. As a group, research analysts forecast that Immunovant, Inc. will post -2.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and set a $51.00 price target on shares of Immunovant in a report on Monday, September 30th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immunovant in a report on Monday, September 9th. UBS Group decreased their price target on shares of Immunovant from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Raymond James reissued an "outperform" rating and issued a $36.00 price target on shares of Immunovant in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Immunovant from $51.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunovant presently has a consensus rating of "Buy" and a consensus price target of $48.10.

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.