Northern Trust Corp Purchases 20,377 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Northern Trust Corp grew its stake in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,367 shares of the company's stock after acquiring an additional 20,377 shares during the quarter. Northern Trust Corp owned about 0.31% of Immunovant worth $13,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. KBC Group NV increased its position in Immunovant by 60.1% during the 4th quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Immunovant during the 4th quarter worth approximately $268,000. Aigen Investment Management LP acquired a new stake in Immunovant during the 4th quarter worth approximately $270,000. CANADA LIFE ASSURANCE Co increased its position in Immunovant by 138.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company's stock worth $353,000 after purchasing an additional 8,289 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in Immunovant by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock worth $377,000 after purchasing an additional 2,373 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Immunovant Stock Performance

Shares of NASDAQ IMVT traded up $0.23 during midday trading on Tuesday, reaching $14.93. 335,333 shares of the company traded hands, compared to its average volume of 1,573,073. The stock's 50-day simple moving average is $15.83 and its 200-day simple moving average is $21.35. Immunovant, Inc. has a 12 month low of $12.72 and a 12 month high of $34.47. The firm has a market cap of $2.54 billion, a PE ratio of -5.74 and a beta of 0.75.

Insider Activity at Immunovant

In other Immunovant news, Director Andrew J. Fromkin sold 8,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the transaction, the director now directly owns 91,913 shares of the company's stock, valued at $1,801,494.80. This represents a 8.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the sale, the chief executive officer now directly owns 1,186,512 shares in the company, valued at approximately $15,412,790.88. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,682 shares of company stock worth $753,419. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

IMVT has been the subject of several analyst reports. UBS Group restated a "neutral" rating and issued a $17.00 target price (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Bank of America dropped their target price on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Immunovant in a report on Wednesday, March 19th. Jefferies Financial Group began coverage on shares of Immunovant in a report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price on the stock. Finally, Guggenheim reissued a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

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.