AlphaCentric Advisors LLC Sells 1,500 Shares of Immunovant, Inc. (NASDAQ:IMVT)

AlphaCentric Advisors LLC trimmed its position in shares of Immunovant, Inc. (NASDAQ:IMVT) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,000 shares of the company’s stock after selling 1,500 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Immunovant were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of IMVT. Quest Partners LLC grew its position in Immunovant by 216.7% in the 2nd quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after acquiring an additional 1,786 shares during the last quarter. Headlands Technologies LLC bought a new stake in Immunovant during the 2nd quarter valued at about $77,000. EntryPoint Capital LLC boosted its position in Immunovant by 288.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after buying an additional 2,163 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Immunovant by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after acquiring an additional 934 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new position in shares of Immunovant during the third quarter worth approximately $261,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Stock Performance

NASDAQ:IMVT opened at $29.42 on Tuesday. Immunovant, Inc. has a twelve month low of $24.67 and a twelve month high of $45.58. The firm has a 50-day moving average price of $29.82 and a two-hundred day moving average price of $28.92.

Immunovant (NASDAQ:IMVT) last announced its quarterly 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 quarter in the prior year, the business posted ($0.57) EPS. On average, equities analysts anticipate that Immunovant, Inc. will post -2.41 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on IMVT. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a report on Monday, September 9th. UBS Group lowered their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their target price 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. Finally, Oppenheimer boosted their target price on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average 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 stock in a transaction on 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider William L. Macias sold 3,188 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 365,144 shares in the company, valued at $10,512,495.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Peter Salzmann sold 4,460 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $131,837.60. Following the completion of the transaction, the chief executive officer now directly owns 1,003,884 shares in the company, valued at $29,674,811.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,277 shares of company stock valued at $941,919 in the last quarter. Company 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.