Emerald Advisers LLC Has $6.06 Million Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Emerald Advisers LLC trimmed its position in Immunovant, Inc. (NASDAQ:IMVT) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 244,558 shares of the company’s stock after selling 5,481 shares during the period. Emerald Advisers LLC’s holdings in Immunovant were worth $6,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its stake in Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Immunovant in the 4th quarter valued at $268,000. Aigen Investment Management LP bought a new stake in shares of Immunovant in the 4th quarter worth about $270,000. Teacher Retirement System of Texas increased its position in shares of Immunovant by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company’s stock worth $377,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP bought a new position in Immunovant during the 3rd quarter valued at about $427,000. 47.08% of the stock is owned by institutional investors.

Immunovant Price Performance

Shares of Immunovant stock opened at $19.64 on Friday. Immunovant, Inc. has a 1 year low of $17.01 and a 1 year high of $34.47. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -7.50 and a beta of 0.68. The business has a fifty day simple moving average of $20.86 and a two-hundred day simple moving average of $25.68.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, equities analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Activity

In other Immunovant news, CFO Eva Renee Barnett sold 4,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the transaction, the chief financial officer now directly owns 327,064 shares of the company’s stock, valued at $7,882,242.40. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 5,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.10, for a total transaction of $123,030.50. Following the sale, the chief executive officer now directly owns 972,992 shares of the company’s stock, valued at approximately $23,449,107.20. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,510 shares of company stock valued at $813,686. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IMVT. Guggenheim reaffirmed a “buy” rating on shares of Immunovant in a report on Thursday. Jefferies Financial Group began coverage on Immunovant in a report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price target on the stock. Bank of America dropped their price objective on Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday. Cantor Fitzgerald raised shares of Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.70.

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.