XTX Topco Ltd Acquires Shares of 22,740 Immunovant, Inc. (NASDAQ:IMVT)

XTX Topco Ltd purchased a new position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,740 shares of the company's stock, valued at approximately $563,000.

Several other institutional investors have also recently made changes to their positions in IMVT. KBC Group NV grew its holdings 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 acquiring an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Immunovant during the fourth quarter valued at approximately $268,000. Aigen Investment Management LP purchased a new position in Immunovant during the fourth quarter valued at approximately $270,000. Teacher Retirement System of Texas increased its holdings in Immunovant by 18.5% during the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock valued at $377,000 after buying an additional 2,373 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Immunovant in the fourth quarter worth approximately $505,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Wall Street Analyst Weigh In

IMVT has been the subject of several recent research reports. Wolfe Research lowered Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a research report on Tuesday, March 4th. UBS Group reaffirmed a "neutral" rating and issued a $17.00 price objective (down previously from $38.00) on shares of Immunovant in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 target price for the company. Finally, Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Two investment 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Insider Activity

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were 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 of the company's stock, valued at approximately $15,412,790.88. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $19.60, for a total value of $156,800.00. Following the sale, the director now directly owns 91,913 shares in the company, valued at $1,801,494.80. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,408 shares of company stock valued at $690,207 in the last ninety days. Insiders own 5.90% of the company's stock.

Immunovant Stock Performance

IMVT stock traded up $0.20 during midday trading on Wednesday, reaching $14.45. The stock had a trading volume of 1,274,436 shares, compared to its average volume of 1,199,512. The firm has a fifty day simple moving average of $17.84 and a two-hundred day simple moving average of $23.38. The stock has a market cap of $2.45 billion, a PE ratio of -5.52 and a beta of 0.81. 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 released its earnings results on Monday, February 10th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.08). On average, sell-side analysts predict that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Immunovant 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.