GSA Capital Partners LLP Increases Stake in Immunovant, Inc. (NASDAQ:IMVT)

GSA Capital Partners LLP lifted its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 66.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,634 shares of the company’s stock after purchasing an additional 9,810 shares during the quarter. GSA Capital Partners LLP’s holdings in Immunovant were worth $702,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Quest Partners LLC lifted its position in Immunovant by 216.7% during the second quarter. Quest Partners LLC now owns 2,610 shares of the company’s stock worth $69,000 after buying an additional 1,786 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Immunovant during the 2nd quarter worth $77,000. Assetmark Inc. raised its holdings in shares of Immunovant by 73.8% during the 3rd quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock worth $82,000 after acquiring an additional 1,228 shares during the period. EntryPoint Capital LLC boosted its position 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Immunovant by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock valued at $148,000 after purchasing an additional 934 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Immunovant news, CTO Jay S. Stout sold 2,740 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $29.53, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark S. Levine sold 4,361 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 value of $128,780.33. Following the completion of the transaction, the insider now owns 322,878 shares of the company’s stock, valued at $9,534,587.34. The trade was a 1.33 % 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 worth $941,919 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IMVT has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Friday, November 8th. Oppenheimer increased their price objective on Immunovant from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $48.10.

Immunovant Trading Down 5.1 %

IMVT stock opened at $26.63 on Monday. The business’s fifty day moving average price is $29.45 and its 200 day moving average price is $29.01. Immunovant, Inc. has a 12-month low of $24.67 and a 12-month high of $45.58. The company has a market capitalization of $3.91 billion, a PE ratio of -12.00 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period in the prior year, the firm posted ($0.45) EPS. Research analysts predict 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.