Immunovant (IMVT) Rose on Positive Clinical Trial

Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Information technology and industrials were the top-performing sectors in the Carillon Chartwell Small Cap Growth Fund, with alpha production coming from well-chosen stocks. In contrast, poor stock selection hindered the materials sector’s performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Carillon Chartwell Small Cap Value Fund highlighted stocks like Immunovant, Inc. (NASDAQ:IMVT) in the third quarter 2023 investor letter. Headquartered in New York, New York, Immunovant, Inc. (NASDAQ:IMVT) is a clinical-stage biopharmaceutical company. On December 22, 2023, Immunovant, Inc. (NASDAQ:IMVT) stock closed at $41.48 per share. One-month return of Immunovant, Inc. (NASDAQ:IMVT) was 26.00%, and its shares gained 160.38% of their value over the last 52 weeks. Immunovant, Inc. (NASDAQ:IMVT) has a market capitalization of $6.112 billion.

Carillon Chartwell Small Cap Value Fund made the following comment about Immunovant, Inc. (NASDAQ:IMVT) in its Q3 2023 investor letter:

Immunovant, Inc. (NASDAQ:IMVT) is a clinical-stage immunology company focused on developing treatments for autoimmune diseases. During the quarter, the company reported positive pharmacodynamic data from its phase 1 clinical trial for its neonatal fragment crystallizable receptor (FcRn) inhibitor. The efficacy and safety data positions the company’s IMVT-1402 product well as a potential treatment for a variety of autoimmune diseases associated with high unmet patient need.”

A closeup of a scientist working with a microscope in a biotech laboratory.

Immunovant, Inc. (NASDAQ:IMVT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Immunovant, Inc. (NASDAQ:IMVT) at the end of third quarter which was 31 in the previous quarter.

We discussed Immunovant, Inc. (NASDAQ:IMVT) in another article and shared the list of stocks insiders and billionaires are crazy about. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.