Jump Financial LLC boosted its position in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 111.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,668 shares of the company's stock after purchasing an additional 68,312 shares during the period. Jump Financial LLC owned approximately 0.08% of Immunovant worth $3,212,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Immunovant during the 4th quarter valued at about $563,000. F M Investments LLC bought a new position in shares of Immunovant in the fourth quarter valued at $510,000. Raymond James Financial Inc. bought a new position in shares of Immunovant in the fourth quarter valued at $505,000. FMR LLC lifted its position in shares of Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company's stock valued at $324,435,000 after acquiring an additional 560,344 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Immunovant by 50.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,063 shares of the company's stock worth $695,000 after acquiring an additional 9,349 shares in the last quarter. 47.08% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on IMVT shares. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. UBS Group reiterated a "neutral" rating and issued a $17.00 target price (down from $38.00) on shares of Immunovant in a report on Tuesday. Wolfe Research downgraded shares of 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 note on Tuesday, March 4th. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Immunovant in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.33.
Read Our Latest Report on IMVT
Insider Buying and Selling
In other news, CEO Peter Salzmann sold 28,094 shares of Immunovant stock in a transaction that occurred 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 in the company, valued at $15,412,790.88. This trade 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 is available at the SEC website. Also, Director Andrew J. Fromkin sold 8,000 shares of Immunovant stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total transaction of $156,800.00. Following the completion of the sale, the director now owns 91,913 shares in the company, valued at $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,408 shares of company stock valued at $690,207. Company insiders own 5.90% of the company's stock.
Immunovant Price Performance
Shares of Immunovant stock traded up $0.34 on Wednesday, hitting $14.59. 387,875 shares of the company's stock traded hands, compared to its average volume of 1,667,512. Immunovant, Inc. has a one year low of $12.72 and a one year high of $34.47. The firm's 50-day moving average price is $17.84 and its two-hundred day moving average price is $23.38. The stock has a market capitalization of $2.48 billion, a PE ratio of -5.57 and a beta of 0.81.
Immunovant (NASDAQ:IMVT - Get Free Report) last announced its quarterly 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 forecast that Immunovant, Inc. will post -2.69 earnings per share 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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