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

Assetmark Inc. grew its position in Immunovant, Inc. (NASDAQ:IMVT) by 73.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,891 shares of the company’s stock after buying an additional 1,228 shares during the period. Assetmark Inc.’s holdings in Immunovant were worth $82,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IMVT. Vanguard Group Inc. lifted its stake in shares of Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after purchasing an additional 650,506 shares during the period. Armistice Capital LLC increased its stake in Immunovant by 57.0% during 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 in the last quarter. Alpine Global Management LLC raised its holdings in Immunovant by 34.6% during the 1st quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock worth $60,830,000 after buying an additional 484,332 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $60,163,000 after buying an additional 259,481 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Immunovant by 69.9% in the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock valued at $27,117,000 after buying an additional 391,436 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling

In other Immunovant news, CEO Peter Salzmann sold 4,460 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.56, for a total transaction of $131,837.60. Following the completion of the sale, the chief executive officer now directly owns 1,003,884 shares in the company, valued at $29,674,811.04. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Eva Renee Barnett sold 5,162 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.56, for a total value of $152,588.72. Following the sale, the chief financial officer now owns 338,614 shares of the company’s stock, valued at approximately $10,009,429.84. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,277 shares of company stock valued at $941,919. 5.90% of the stock is owned by insiders.

Immunovant Trading Down 5.1 %

NASDAQ IMVT opened at $26.63 on Monday. The firm’s fifty day moving average price is $29.45 and its two-hundred day moving average price is $29.01. Immunovant, Inc. has a 1 year low of $24.67 and a 1 year high of $45.58. The firm has a market capitalization of $3.91 billion, a P/E ratio of -12.00 and a beta of 0.66.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). During the same period last year, the company posted ($0.45) earnings per share. On average, research analysts anticipate that Immunovant, Inc. will post -2.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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. Raymond James reissued an “outperform” rating and issued a $36.00 price target on shares of Immunovant in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research report on Monday, September 9th. Oppenheimer lifted their target price on Immunovant from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Friday, November 8th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.10.

Immunovant Company Profile

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.