Assetmark Inc. Has $82,000 Stake in Immunovant, Inc. (NASDAQ:IMVT)

Assetmark Inc. grew its stake in Immunovant, Inc. (NASDAQ:IMVT) by 73.8% during the third quarter, HoldingsChannel reports. The firm owned 2,891 shares of the company’s stock after buying an additional 1,228 shares during the quarter. Assetmark Inc.’s holdings in Immunovant were worth $82,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC boosted its position in Immunovant by 216.7% in the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock valued at $69,000 after buying an additional 1,786 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Immunovant by 288.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,912 shares of the company’s stock valued at $94,000 after acquiring an additional 2,163 shares in the last quarter. Headlands Technologies LLC bought a new stake in Immunovant during the 2nd quarter worth $77,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Immunovant by 21.4% in the 3rd 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 in the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new position in Immunovant in the 3rd quarter worth about $261,000. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IMVT. 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. JPMorgan Chase & Co. dropped their price target on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a research report on Friday, November 8th. Finally, UBS Group reduced their price target on Immunovant from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.10.

Insider Transactions at Immunovant

In related news, CFO Eva Renee Barnett sold 5,162 shares of Immunovant stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total value of $152,588.72. Following the completion of the sale, the chief financial officer now owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jay S. Stout sold 2,740 shares of the business’s stock in a transaction on 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 owns 142,186 shares of the company’s stock, valued at $4,198,752.58. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,277 shares of company stock valued at $941,919 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Immunovant Trading Down 5.1 %

Shares of Immunovant stock opened at $26.63 on Monday. The company has a market cap of $3.91 billion, a P/E ratio of -12.00 and a beta of 0.66. The business has a 50-day moving average price of $29.45 and a two-hundred day moving average price of $29.01. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58.

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