GAMMA Investing LLC Buys 5,229 Shares of Immunovant, Inc. (NASDAQ:IMVT)

GAMMA Investing LLC raised its holdings in Immunovant, Inc. (NASDAQ:IMVT) by 3,816.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,366 shares of the company’s stock after buying an additional 5,229 shares during the quarter. GAMMA Investing LLC’s holdings in Immunovant were worth $920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company’s stock valued at $2,005,000 after buying an additional 1,188 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Immunovant by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 564,442 shares of the company’s stock valued at $13,981,000 after acquiring an additional 12,012 shares during the period. Aigen Investment Management LP bought a new position in shares of Immunovant during the 4th quarter valued at approximately $270,000. Raymond James Financial Inc. purchased a new position in Immunovant in the 4th quarter worth approximately $505,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Immunovant by 29.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,884 shares of the company’s stock worth $5,843,000 after purchasing an additional 54,085 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Immunovant Trading Down 1.1%

Shares of IMVT opened at $15.49 on Tuesday. The stock’s 50 day moving average is $14.99 and its two-hundred day moving average is $19.54. The firm has a market cap of $2.65 billion, a P/E ratio of -5.91 and a beta of 0.61. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.08. The company had revenue of $0.16 million for the quarter. During the same quarter in the prior year, the business earned ($0.52) earnings per share. Equities research analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group reaffirmed a “neutral” rating and set a $17.00 price objective (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Jefferies Financial Group started coverage on Immunovant in a research report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target on the stock. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Guggenheim reiterated a “buy” rating on shares of Immunovant in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Immunovant has an average rating of “Moderate Buy” and an average target price of $38.33.

Insider Activity at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $44,565.77. Following the completion of the sale, the chief financial officer now directly owns 396,774 shares of the company’s stock, valued at approximately $5,907,964.86. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,186,512 shares of the company’s stock, valued at $15,412,790.88. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,682 shares of company stock worth $596,619. 5.90% of the stock is currently owned by company insiders.

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.