Russell Investments Group Ltd. Increases Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Russell Investments Group Ltd. raised its position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 337.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,901 shares of the company's stock after buying an additional 136,418 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Immunovant worth $7,453,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Immunovant in the 4th quarter worth about $27,000. China Universal Asset Management Co. Ltd. lifted its holdings in Immunovant by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company's stock worth $129,000 after buying an additional 1,651 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Immunovant in the 3rd quarter worth approximately $230,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Immunovant by 56.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,206 shares of the company's stock valued at $238,000 after acquiring an additional 2,228 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Immunovant during the 3rd quarter valued at approximately $257,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Price Performance

Immunovant stock traded up $0.18 during trading hours on Wednesday, hitting $29.76. The company had a trading volume of 804,546 shares, compared to its average volume of 1,200,295. The firm's fifty day moving average is $30.89 and its 200-day moving average is $35.39. The firm has a market capitalization of $4.32 billion, a P/E ratio of -16.08 and a beta of 0.70. Immunovant, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $45.58.

Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. Analysts anticipate that Immunovant, Inc. will post -1.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IMVT. Wolfe Research initiated coverage on shares of Immunovant in a report on Thursday, February 15th. They set an "outperform" rating and a $55.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunovant in a research report on Friday, January 12th. Truist Financial restated a "buy" rating and set a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. The Goldman Sachs Group assumed coverage on shares of Immunovant in a research report on Wednesday, March 13th. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Immunovant in a research note on Tuesday, February 20th. They issued an "overweight" rating and a $51.00 price target on the stock. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunovant currently has an average rating of "Buy" and an average target price of $48.00.

Insider Activity at Immunovant

In other news, CEO Peter Salzmann sold 4,807 shares of the firm's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the transaction, the chief executive officer now owns 1,086,958 shares in the company, valued at approximately $33,891,350.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Immunovant news, CEO Peter Salzmann sold 4,807 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $149,882.26. Following the transaction, the chief executive officer now owns 1,086,958 shares in the company, valued at $33,891,350.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Eva Renee Barnett sold 2,930 shares of Immunovant stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $105,919.50. Following the completion of the transaction, the chief financial officer now directly owns 320,420 shares in the company, valued at approximately $11,583,183. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,560 shares of company stock valued at $2,424,601. 4.80% of the stock is currently owned by corporate insiders.

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.