Advantage Alpha Capital Partners LP Takes $427,000 Position in Immunovant, Inc. (NASDAQ:IMVT)

Advantage Alpha Capital Partners LP acquired a new position in Immunovant, Inc. (NASDAQ:IMVT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,975 shares of the company’s stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV increased its holdings in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock worth $55,000 after buying an additional 612 shares during the last quarter. Quest Partners LLC grew its position in Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after acquiring an additional 1,786 shares in the last quarter. Assetmark Inc. increased its stake in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after acquiring an additional 1,228 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Immunovant during the second quarter valued at about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Immunovant by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after purchasing an additional 934 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Immunovant Stock Performance

IMVT stock opened at $27.16 on Wednesday. The firm’s 50-day moving average price is $28.99 and its two-hundred day moving average price is $28.86. Immunovant, Inc. has a 12-month low of $24.61 and a 12-month high of $45.58.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the prior year, the company earned ($0.45) earnings per share. Equities research analysts anticipate that Immunovant, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Transactions at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 16,692 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $424,811.40. Following the completion of the transaction, the chief executive officer now directly owns 978,097 shares in the company, valued at approximately $24,892,568.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jay S. Stout sold 2,740 shares of Immunovant stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.53, for a total transaction of $80,912.20. Following the sale, the chief technology officer now directly owns 142,186 shares in the company, valued at $4,198,752.58. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,659 shares of company stock worth $2,096,890. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Raymond James reissued an “outperform” rating and set a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Finally, Oppenheimer upped their price target on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $48.10.

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.