XTX Topco Ltd Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

XTX Topco Ltd bought a new stake in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,740 shares of the company's stock, valued at approximately $563,000.

Other hedge funds have also recently bought and sold shares of the company. KBC Group NV boosted its position in shares of Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Immunovant during the fourth quarter worth approximately $268,000. Aigen Investment Management LP acquired a new position in Immunovant in the fourth quarter worth approximately $270,000. Teacher Retirement System of Texas increased its holdings in shares of Immunovant by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock valued at $377,000 after buying an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Immunovant during the 4th quarter valued at $505,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Eva Renee Barnett sold 2,993 shares of Immunovant stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $44,565.77. Following the completion of the transaction, the chief financial officer now directly owns 396,774 shares of the company's stock, valued at $5,907,964.86. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Salzmann sold 8,321 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the transaction, the chief executive officer now owns 1,178,191 shares in the company, valued at approximately $17,543,263.99. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,408 shares of company stock worth $690,207. 5.90% of the stock is currently owned by insiders.

Immunovant Trading Down 2.9 %

IMVT stock traded down $0.43 during mid-day trading on Friday, hitting $14.64. The stock had a trading volume of 369,577 shares, compared to its average volume of 1,197,516. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -5.58 and a beta of 0.81. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47. The company has a fifty day moving average of $17.62 and a 200 day moving average of $23.22.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). As a group, sell-side analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

IMVT has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Immunovant in a research report on Wednesday, March 19th. Bank of America reduced their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. Jefferies Financial Group initiated coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 price target on the stock. Finally, Guggenheim reiterated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

Immunovant 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.