ExodusPoint Capital Management LP Takes Position in Immunovant, Inc. (NASDAQ:IMVT)

ExodusPoint Capital Management LP acquired a new position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,233 shares of the company's stock, valued at approximately $724,000.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Immunovant by 11.2% during the 3rd quarter. State Street Corp now owns 3,022,342 shares of the company's stock valued at $86,167,000 after acquiring an additional 303,386 shares during the period. Geode Capital Management LLC raised its stake in shares of Immunovant by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,510,926 shares of the company's stock worth $43,085,000 after buying an additional 96,924 shares during the period. Tyro Capital Management LLC lifted its position in shares of Immunovant by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 252,149 shares of the company's stock valued at $7,189,000 after buying an additional 1,529 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock valued at $27,117,000 after acquiring an additional 391,436 shares during the period. Finally, KBC Group NV increased its holdings in Immunovant by 60.1% in the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after acquiring an additional 1,163 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

Immunovant Stock Performance

Shares of IMVT traded up $0.11 during mid-day trading on Thursday, hitting $14.95. 183,703 shares of the stock were exchanged, compared to its average volume of 1,188,580. The firm has a 50-day moving average of $18.22 and a two-hundred day moving average of $23.82. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47. The company has a market cap of $2.54 billion, a PE ratio of -5.74 and a beta of 0.81.

Immunovant (NASDAQ:IMVT - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.08). On average, sell-side analysts predict that Immunovant, Inc. will post -2.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IMVT shares. Wells Fargo & Company dropped their price target on shares of Immunovant from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald upgraded Immunovant to a "strong-buy" rating in a research note on Tuesday, March 4th. Guggenheim reissued a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group began coverage on Immunovant in a report on Monday, March 3rd. They issued a "hold" rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Immunovant has a consensus rating of "Buy" and an average price target of $41.00.

Insider Activity at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of Immunovant stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the transaction, the chief executive officer now directly owns 1,186,512 shares of the company's stock, valued at $15,412,790.88. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Geffner sold 2,657 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the completion of the sale, the insider now directly owns 132,314 shares in the company, valued at approximately $3,121,287.26. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,946 shares of company stock valued at $636,200. Insiders own 5.90% of the company's stock.

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.