Emerald Mutual Fund Advisers Trust Has $3.87 Million Position in Immunovant, Inc. (NASDAQ:IMVT)

Emerald Mutual Fund Advisers Trust lowered its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,097 shares of the company's stock after selling 27,524 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.09% of Immunovant worth $3,867,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IMVT. Northern Trust Corp boosted its position in Immunovant by 4.0% during the fourth quarter. Northern Trust Corp now owns 527,367 shares of the company's stock worth $13,063,000 after purchasing an additional 20,377 shares during the period. Aquatic Capital Management LLC acquired a new position in Immunovant in the 4th quarter valued at $1,180,000. Two Seas Capital LP raised its holdings in Immunovant by 123.4% in the 4th quarter. Two Seas Capital LP now owns 1,511,614 shares of the company's stock worth $37,443,000 after acquiring an additional 835,000 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Immunovant by 53.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after acquiring an additional 1,786,217 shares during the last quarter. Finally, Alpine Global Management LLC grew its position in shares of Immunovant by 14.7% in the fourth quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company's stock valued at $53,476,000 after purchasing an additional 276,200 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

Insider Activity

In other news, CEO Peter Salzmann sold 28,094 shares of Immunovant stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value of $364,941.06. Following the completion of the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the sale, the director now owns 91,913 shares in the company, valued at approximately $1,801,494.80. This trade represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,682 shares of company stock worth $753,419. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

IMVT has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Wednesday, March 19th. Guggenheim reissued a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Bank of America decreased their price target on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, UBS Group reaffirmed a "neutral" rating and set a $17.00 price objective (down previously from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

Immunovant Stock Down 0.6 %

IMVT traded down $0.10 during midday trading on Friday, reaching $15.80. 906,005 shares of the company's stock were exchanged, compared to its average volume of 1,202,388. The business has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $22.59. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -6.03 and a beta of 0.81. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47.

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 the consensus estimate of ($0.68) by ($0.08). As a group, 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.