Alps Advisors Inc. Sells 50,515 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Alps Advisors Inc. lessened its stake in shares of Immunovant, Inc. (NASDAQ:IMVTGet Rating) by 42.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 69,110 shares of the company’s stock after selling 50,515 shares during the period. Alps Advisors Inc.’s holdings in Immunovant were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank bought a new stake in Immunovant during the first quarter worth about $33,000. Prospera Financial Services Inc bought a new stake in Immunovant during the first quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Immunovant during the second quarter worth about $57,000. Principal Financial Group Inc. raised its holdings in Immunovant by 17.6% during the second quarter. Principal Financial Group Inc. now owns 15,327 shares of the company’s stock worth $60,000 after acquiring an additional 2,293 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new stake in Immunovant in the first quarter valued at approximately $105,000. Institutional investors own 34.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IMVT. HC Wainwright upped their price objective on Immunovant from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, November 7th. SVB Leerink upped their price objective on Immunovant from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. Truist Financial upped their price objective on Immunovant to $30.00 in a research note on Thursday, November 17th. Chardan Capital upped their price objective on Immunovant from $12.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 7th. Finally, Wells Fargo & Company upped their price objective on Immunovant from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.43.

Insider Activity

In related news, CFO Eva Renee Barnett sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $9.44, for a total transaction of $118,000.00. Following the sale, the chief financial officer now owns 272,857 shares of the company’s stock, valued at $2,575,770.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Frank Torti purchased 20,000 shares of Immunovant stock in a transaction that occurred on Thursday, September 29th. The shares were acquired at an average price of $5.81 per share, with a total value of $116,200.00. Following the completion of the transaction, the director now directly owns 393,358 shares of the company’s stock, valued at approximately $2,285,409.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva Renee Barnett sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $9.44, for a total value of $118,000.00. Following the sale, the chief financial officer now directly owns 272,857 shares in the company, valued at approximately $2,575,770.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,894 shares of company stock valued at $178,229. 3.00% of the stock is owned by insiders.

Immunovant Trading Up 4.1 %

Immunovant stock opened at $13.30 on Thursday. Immunovant, Inc. has a 12 month low of $3.14 and a 12 month high of $13.48. The stock’s 50 day moving average is $9.29 and its 200-day moving average is $6.16. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.56 and a beta of 1.21.

Immunovant (NASDAQ:IMVTGet Rating) last posted its earnings results on Friday, November 4th. The company reported ($0.41) EPS for the quarter, meeting the consensus estimate of ($0.41). As a group, equities research analysts predict that Immunovant, Inc. will post -1.56 earnings per share for the current fiscal year.

Immunovant Profile

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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 selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.

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Institutional Ownership by Quarter for Immunovant (NASDAQ:IMVT)

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