On February 17, 2026, Alpine Global Management disclosed a sale of 127,039 shares of immunovant (NASDAQ:IMVT)with an estimated transaction value of $2.83 million based on the quarterly average price.
According to a filing with the Securities and Exchange Commission on February 17, 2026, Alpine Global Management reduced its position in Immunovant by 127,039 shares during the fourth quarter of 2025. The estimated value of the transaction was $2.83 million, calculated using the quarterly average share price. The fund’s quarter-end valuation for this position decreased by $22.36 million, a figure that includes both trading activity and market price movements.
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This was a sale, leaving Immunovant with 11.4% of Alpine’s 13F AUM after the quarter.
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Main participations after the presentation:
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NASDAQ:IMVT: $66.77 million (12.5% ​​of assets under management)
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NASDAQ:RIVN: $51.80 million (9.7% of assets under management)
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NYSE:ACHR: $35.17 million (6.6% of assets under management)
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New York Stock Exchange:CVNA: $18.82 million (3.5% of assets under management)
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New York Stock Exchange:ARES: $11.07 million (2.1% of assets under management)
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As of February 17, 2026, Immunovant shares were priced at $26.28, up 26.2% year-over-year and outperforming the S&P 500 by 17.35 percentage points.
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Metric |
Worth |
|---|---|
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Market capitalization |
$5.35 billion |
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Net Income (TTM) |
($464.20 million) |
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Price (as of market close on February 17, 2026) |
$26.28 |
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Immunovant develops monoclonal antibody therapies targeting autoimmune diseases.
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The firm operates a clinical-stage biopharmaceutical model, generating value through the advancement of patented drug candidates toward regulatory approval and potential commercialization.
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It targets patients with autoimmune disorders such as myasthenia gravis, thyroid eye disease, and warm autoimmune hemolytic anemia, with healthcare providers and payers being the primary stakeholders.
Immunovant, Inc. is a clinical-stage biotechnology company focused on the development of innovative antibody therapies for autoimmune diseases. The company leverages a targeted approach with its lead asset, batoclimab, with the goal of addressing important unmet medical needs in specialty indications.
With a strong pipeline and specialized focus on autoimmune diseases, Immunovant seeks to establish a competitive position in the biopharmaceutical landscape through clinical advancement and potential future commercialization.
Immunovant remains the largest position in this portfolio despite the fourth quarter cut, representing more than 11% of reported assets. This alone suggests that conviction has not disappeared here. Instead, the move appears more like an effort to rebalance after a sharp decline in stocks.
The company continues to advance batoclimab and other FcRn inhibitors targeting autoimmune diseases such as myasthenia gravis and thyroid eye disease, areas where new therapies could have significant pricing power if clinical trials are successful. For now, however, Immunovant remains firmly in the development stage, meaning the investment case largely depends on clinical milestones rather than current revenue. The company plans to share top-line data from its two Phase 3 studies for batoclimab in the first half of this year.
In that context, a modest reduction makes sense. The fund still maintains significant exposure while freeing up capital for other high-growth names in its portfolio, including electric vehicle maker Rivian and aerospace startup Archer Aviation.