Russell Investments Group Ltd. reduced its stake in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 222,806 shares of the company's stock after selling 28,686 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Immunovant worth $5,519,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV increased its stake in Immunovant by 60.1% in 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 purchased a new position in shares of Immunovant in the fourth quarter valued at $268,000. Aigen Investment Management LP acquired a new position in shares of Immunovant during the 4th quarter worth $270,000. Teacher Retirement System of Texas boosted its position in shares of Immunovant by 18.5% in the 4th quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock worth $377,000 after buying an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Immunovant in the 4th quarter valued at about $505,000. 47.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Immunovant in a report on Wednesday, March 19th. Jefferies Financial Group assumed coverage on Immunovant in a research note on Monday, March 3rd. They set a "hold" rating and a $20.00 price objective on the stock. Guggenheim reiterated a "buy" rating on shares of Immunovant in a research report on Thursday, March 20th. Finally, Wolfe Research lowered shares of Immunovant from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Immunovant has an average rating of "Buy" and an average price target of $41.00.
Check Out Our Latest Analysis on Immunovant
Insider Transactions at Immunovant
In related news, CEO Peter Salzmann sold 28,094 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $15,412,790.88. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Jay S. Stout sold 2,195 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $51,780.05. Following the completion of the sale, the chief technology officer now directly owns 139,991 shares of the company's stock, valued at $3,302,387.69. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,260 shares of company stock worth $804,665. 5.90% of the stock is currently owned by company insiders.
Immunovant Price Performance
NASDAQ:IMVT traded up $0.31 during trading hours on Friday, reaching $15.15. 1,040,222 shares of the company were exchanged, compared to its average volume of 1,189,335. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -5.78 and a beta of 0.81. The stock has a 50 day simple moving average of $18.05 and a 200 day simple moving average of $23.64. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $34.47.
Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). On average, analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.
About Immunovant
(
Free Report)
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.
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