Immunovant, Inc. (NASDAQ:IMVT) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 527,367 shares of the company's stock after acquiring an additional 20,377 shares during the period. Northern Trust Corp owned about 0.31% of Immunovant worth $13,063,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IMVT. FMR LLC raised its stake in Immunovant by 4.5% in the fourth quarter. FMR LLC now owns 13,097,915 shares of the company's stock worth $324,435,000 after buying an additional 560,344 shares in the last quarter. Vanguard Group Inc. raised its stake in Immunovant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock worth $165,449,000 after buying an additional 20,614 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Immunovant by 53.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after buying an additional 1,786,217 shares in the last quarter. Alpine Global Management LLC raised its stake in Immunovant by 14.7% in the fourth quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company's stock worth $53,476,000 after buying an additional 276,200 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Immunovant by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,515,020 shares of the company's stock worth $37,536,000 after buying an additional 4,094 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Immunovant Trading Down 2.1%

IMVT stock traded down $0.31 during trading on Wednesday, reaching $14.69. 79,978 shares of the stock were exchanged, compared to its average volume of 1,216,504. The business has a 50 day moving average price of $15.76 and a 200-day moving average price of $21.31. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -5.60 and a beta of 0.75.

Insiders Place Their Bets

In other Immunovant news, CTO Jay S. Stout sold 1,925 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $14.79, for a total transaction of $28,470.75. Following the completion of the transaction, the chief technology officer now owns 209,243 shares in the company, valued at approximately $3,094,703.97. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 28,094 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total transaction of $364,941.06. Following the transaction, 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. Insiders sold 51,682 shares of company stock worth $753,419 in the last 90 days. Corporate insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IMVT shares. Bank of America cut their price target 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 restated a "buy" rating and issued 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 issued a "hold" rating and a $20.00 target price on the stock. Cantor Fitzgerald upgraded shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, Guggenheim restated a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Immunovant Company 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.