Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 156,097 shares of the company's stock after selling 27,524 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.09% of Immunovant worth $3,867,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IMVT. KBC Group NV raised its holdings in Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after buying an additional 1,163 shares during the period. Rhumbline Advisers raised its stake in shares of Immunovant by 1.5% in the 4th quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock valued at $2,005,000 after acquiring an additional 1,188 shares during the period. Swiss National Bank lifted its holdings in shares of Immunovant by 1.2% in the 4th quarter. Swiss National Bank now owns 100,800 shares of the company's stock worth $2,497,000 after acquiring an additional 1,200 shares during the last quarter. Tyro Capital Management LLC lifted its holdings in shares of Immunovant by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock worth $7,189,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Immunovant by 4.0% during the 4th quarter. Sei Investments Co. now owns 40,456 shares of the company's stock worth $1,002,000 after purchasing an additional 1,541 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on IMVT shares. Wolfe Research cut shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Jefferies Financial Group began coverage on shares of Immunovant in a research note on Monday, March 3rd. They issued a "hold" rating and a $20.00 price objective on the stock. Guggenheim reiterated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Buying and Selling at Immunovant

In other news, CTO Jay S. Stout sold 1,925 shares of Immunovant stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $28,470.75. Following the completion of the transaction, the chief technology officer now owns 209,243 shares in the company, valued at approximately $3,094,703.97. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Geffner sold 2,349 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total value of $34,741.71. Following the sale, the insider now directly owns 225,370 shares in the company, valued at approximately $3,333,222.30. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,682 shares of company stock worth $753,419 in the last 90 days. 5.90% of the stock is owned by corporate insiders.

Immunovant Stock Performance

Shares of NASDAQ:IMVT traded down $0.10 during midday trading on Friday, hitting $15.80. 906,005 shares of the company's stock traded hands, compared to its average volume of 1,200,383. Immunovant, Inc. has a twelve month low of $12.72 and a twelve month high of $34.47. The company has a market cap of $2.68 billion, a PE ratio of -6.03 and a beta of 0.81. The firm's fifty day moving average price is $17.09 and its two-hundred day moving average price is $22.73.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). As a group, equities research analysts anticipate that Immunovant, Inc. will post -2.69 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.