Hillsdale Investment Management Inc. Buys 8,200 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Hillsdale Investment Management Inc. lifted its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 8.9% during the 1st quarter, HoldingsChannel reports. The firm owned 100,200 shares of the company’s stock after acquiring an additional 8,200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Immunovant were worth $3,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in Immunovant during the 4th quarter worth approximately $27,000. Assetmark Inc. acquired a new stake in Immunovant during the 4th quarter worth approximately $61,000. Los Angeles Capital Management LLC acquired a new stake in Immunovant during the 4th quarter worth approximately $212,000. CoreCap Advisors LLC boosted its position in Immunovant by 11.2% during the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company’s stock worth $270,000 after buying an additional 647 shares during the period. Finally, JFG Wealth Management LLC acquired a new stake in Immunovant during the 4th quarter worth approximately $295,000. 47.08% of the stock is owned by institutional investors.

Immunovant Price Performance

Shares of NASDAQ IMVT traded up $0.03 during mid-day trading on Monday, reaching $28.00. 936,848 shares of the company’s stock traded hands, compared to its average volume of 1,194,119. The stock has a market cap of $4.09 billion, a P/E ratio of -14.74 and a beta of 0.67. The business has a 50-day simple moving average of $27.81 and a 200 day simple moving average of $31.85. Immunovant, Inc. has a 1-year low of $18.82 and a 1-year high of $45.58.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). During the same quarter in the previous year, the business posted ($0.46) EPS. Equities research analysts anticipate that Immunovant, Inc. will post -2.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Peter Salzmann sold 16,163 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total transaction of $479,232.95. Following the transaction, the chief executive officer now directly owns 1,036,716 shares of the company’s stock, valued at $30,738,629.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter Salzmann sold 16,163 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total transaction of $479,232.95. Following the transaction, the chief executive officer now directly owns 1,036,716 shares of the company’s stock, valued at $30,738,629.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Geffner sold 3,261 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the transaction, the insider now directly owns 141,616 shares in the company, valued at $4,092,702.40. The disclosure for this sale can be found here. Insiders sold 59,158 shares of company stock worth $1,729,412 over the last three months. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IMVT has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Immunovant in a research note on Thursday, May 30th. Oppenheimer lowered their target price on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunovant in a research note on Tuesday, June 18th. Finally, Truist Financial reissued a “buy” rating and set a $48.00 target price on shares of Immunovant in a research note on Monday, March 25th. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant has a consensus rating of “Buy” and an average target price of $49.73.

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.