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

AlphaCentric Advisors LLC decreased its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 4.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 35,000 shares of the company’s stock after selling 1,500 shares during the period. AlphaCentric Advisors LLC’s holdings in Immunovant were worth $998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock worth $209,314,000 after purchasing an additional 650,506 shares during the last quarter. Armistice Capital LLC increased its holdings in Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares in the last quarter. Alpine Global Management LLC lifted its holdings 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 valued at $60,830,000 after purchasing an additional 484,332 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after buying an additional 259,481 shares during the last quarter. Finally, First Turn Management LLC lifted its stake in Immunovant by 35.6% in the 2nd quarter. First Turn Management LLC now owns 695,428 shares of the company’s stock valued at $18,359,000 after acquiring an additional 182,535 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insider Buying and Selling

In other Immunovant news, CEO Peter Salzmann sold 9,095 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the sale, the chief executive officer now directly owns 994,789 shares in the company, valued at $28,639,975.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Immunovant news, CFO Eva Renee Barnett sold 5,162 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 $152,588.72. Following the completion of the sale, the chief financial officer now directly owns 338,614 shares in the company, valued at $10,009,429.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Salzmann sold 9,095 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.79, for a total value of $261,845.05. Following the completion of the sale, the chief executive officer now owns 994,789 shares of the company’s stock, valued at approximately $28,639,975.31. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,277 shares of company stock valued at $941,919 over the last three months. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Immunovant Stock Up 0.1 %

Shares of IMVT opened at $29.42 on Tuesday. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58. The firm’s 50 day simple moving average is $29.82 and its 200 day simple moving average is $28.92.

Immunovant (NASDAQ:IMVT) last released its 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 quarter in the prior year, the company earned ($0.57) EPS. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.41 EPS for the current year.

About Immunovant

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.