GSA Capital Partners LLP Acquires Shares of 27,148 Immunovant, Inc. $IMVT

GSA Capital Partners LLP acquired a new position in Immunovant, Inc. (NASDAQ:IMVT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,148 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors have also made changes to their positions in the company. Strs Ohio bought a new stake in Immunovant during the 1st quarter worth about $27,000. PNC Financial Services Group Inc. raised its position in Immunovant by 138.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,646 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Immunovant by 228.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,140 shares of the company’s stock valued at $98,000 after buying an additional 4,273 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Immunovant by 14.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,976 shares of the company’s stock valued at $112,000 after buying an additional 904 shares during the period. Finally, Covestor Ltd raised its position in shares of Immunovant by 552.6% during the third quarter. Covestor Ltd now owns 9,378 shares of the company’s stock worth $152,000 after acquiring an additional 7,941 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wolfe Research upgraded Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Tuesday, January 6th. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Immunovant in a research report on Tuesday, February 10th. The Goldman Sachs Group boosted their price target on shares of Immunovant from $18.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a research note on Friday, January 9th. Finally, Truist Financial lifted their target price on shares of Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Insiders Place Their Bets

In other news, CTO Jay S. Stout sold 1,977 shares of Immunovant stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $26.03, for a total transaction of $51,461.31. Following the transaction, the chief technology officer owned 197,634 shares in the company, valued at $5,144,413.02. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tuyl Christopher Van sold 10,813 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $26.91, for a total value of $290,977.83. Following the completion of the transaction, the insider owned 149,930 shares of the company’s stock, valued at $4,034,616.30. This represents a 6.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 51,242 shares of company stock valued at $1,240,244. Insiders own 1.80% of the company’s stock.

Immunovant Price Performance

Immunovant stock opened at $27.39 on Wednesday. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of -10.18 and a beta of 0.54. The company’s 50 day simple moving average is $26.23 and its 200 day simple moving average is $21.64. Immunovant, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $27.92.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter in the prior year, the firm earned ($0.76) EPS. As a group, analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.