Exchange Traded Concepts LLC Buys 9,438 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Exchange Traded Concepts LLC increased its stake in Immunovant, Inc. (NASDAQ:IMVT) by 53.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,122 shares of the company’s stock after purchasing an additional 9,438 shares during the period. Exchange Traded Concepts LLC’s holdings in Immunovant were worth $773,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IMVT. Armistice Capital LLC raised its position in Immunovant by 57.0% in the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company’s stock worth $89,678,000 after purchasing an additional 1,232,909 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Immunovant by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after acquiring an additional 650,506 shares during the last quarter. Alpine Global Management LLC raised its position in shares of Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after acquiring an additional 484,332 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Immunovant by 16.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock valued at $60,163,000 after acquiring an additional 259,481 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Immunovant by 198.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 311,525 shares of the company’s stock valued at $8,224,000 after acquiring an additional 207,003 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Insider Transactions at Immunovant

In other news, insider Michael Geffner sold 3,456 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $27.76, for a total transaction of $95,938.56. Following the completion of the transaction, the insider now directly owns 138,160 shares in the company, valued at $3,835,321.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Eva Renee Barnett sold 3,271 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $28.79, for a total transaction of $94,172.09. Following the completion of the transaction, the chief financial officer now directly owns 335,343 shares in the company, valued at $9,654,524.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Geffner sold 3,456 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.76, for a total transaction of $95,938.56. Following the transaction, the insider now owns 138,160 shares of the company’s stock, valued at approximately $3,835,321.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,445 shares of company stock worth $906,253 in the last three months. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer upped their target price on shares of Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on shares of Immunovant from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group lowered their price objective on shares of Immunovant from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a research report on Monday, September 30th. Finally, Raymond James restated an “outperform” rating and issued a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant presently has a consensus rating of “Buy” and an average price target of $48.91.

Immunovant Trading Up 0.7 %

Shares of NASDAQ IMVT opened at $29.47 on Friday. The firm has a market cap of $4.31 billion, a PE ratio of -15.51 and a beta of 0.66. Immunovant, Inc. has a 1-year low of $24.67 and a 1-year high of $45.58. The company has a fifty day moving average price of $30.09 and a 200 day moving average price of $28.98.

Immunovant (NASDAQ:IMVT) last announced its earnings results on Tuesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.07). During the same period in the previous year, the business earned ($0.57) EPS. Equities research analysts forecast that Immunovant, Inc. will post -2.43 EPS for the current 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.