Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 11.4% in the fourth 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 approximately 0.13% of Immunovant worth $5,519,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. KBC Group NV boosted its position in Immunovant by 60.1% during the fourth quarter. KBC Group NV now owns 3,099 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Immunovant during the fourth quarter worth about $268,000. Aigen Investment Management LP purchased a new stake in Immunovant during the 4th quarter worth approximately $270,000. Teacher Retirement System of Texas lifted its position in shares of Immunovant by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock valued at $377,000 after acquiring an additional 2,373 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Immunovant in the fourth quarter worth approximately $505,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Insider Buying and Selling at Immunovant

In other Immunovant news, CEO Peter Salzmann sold 28,094 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total value 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 represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jay S. Stout sold 2,195 shares of the company's 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 transaction, the chief technology officer now directly owns 139,991 shares in the company, valued at $3,302,387.69. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,260 shares of company stock worth $804,665. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IMVT. Wells Fargo & Company reduced their price objective on Immunovant from $47.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Wolfe Research cut shares of Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a research note on Thursday, March 20th. Jefferies Financial Group began coverage on Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $51.00 price objective on shares of Immunovant in a research note on Wednesday, March 19th. 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. Based on data from MarketBeat, Immunovant currently has a consensus rating of "Buy" and a consensus price target of $41.00.

Immunovant Stock Up 2.1 %

Immunovant stock traded up $0.31 during mid-day trading on Friday, hitting $15.15. The company had a trading volume of 1,040,222 shares, compared to its average volume of 1,189,487. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -5.78 and a beta of 0.81. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47. The business has a fifty day moving average of $18.14 and a 200 day moving average of $23.73.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted 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). Equities analysts anticipate that Immunovant, Inc. will post -2.69 earnings per share for the current year.

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.