Russell Investments Group Ltd. Acquires 136,418 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Russell Investments Group Ltd. raised its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 337.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,901 shares of the company’s stock after buying an additional 136,418 shares during the period. Russell Investments Group Ltd. owned 0.12% of Immunovant worth $7,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WCM Investment Management LLC acquired a new stake in Immunovant in the 4th quarter valued at approximately $4,548,000. Allspring Global Investments Holdings LLC increased its position in shares of Immunovant by 590.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 42,865 shares of the company’s stock worth $1,806,000 after purchasing an additional 36,659 shares in the last quarter. AWM Investment Company Inc. bought a new position in shares of Immunovant in the third quarter valued at approximately $1,920,000. Wellington Management Group LLP acquired a new position in Immunovant in the third quarter worth $6,473,000. Finally, Citigroup Inc. lifted its position in Immunovant by 43.3% during the 3rd quarter. Citigroup Inc. now owns 126,316 shares of the company’s stock worth $4,849,000 after buying an additional 38,179 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IMVT shares. The Goldman Sachs Group initiated coverage on Immunovant in a research note on Wednesday, March 13th. They set a “buy” rating and a $50.00 price target on the stock. Oppenheimer initiated coverage on Immunovant in a research note on Thursday, March 28th. They set an “outperform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on Immunovant in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 target price on the stock. Wolfe Research began coverage on Immunovant in a research report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price for the company. Finally, Truist Financial reiterated a “buy” rating and issued a $48.00 price target on shares of Immunovant in a research report on Monday, March 25th. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.00.

Immunovant Stock Performance

NASDAQ:IMVT opened at $29.58 on Wednesday. The company has a market cap of $4.30 billion, a PE ratio of -16.08 and a beta of 0.70. Immunovant, Inc. has a 52-week low of $17.53 and a 52-week high of $45.58. The stock has a 50-day simple moving average of $30.89 and a 200 day simple moving average of $35.39.

Immunovant (NASDAQ:IMVT) last issued its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. On average, research analysts predict that Immunovant, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Activity

In other Immunovant news, CEO Peter Salzmann sold 34,079 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total transaction of $990,335.74. Following the sale, the chief executive officer now directly owns 1,052,879 shares of the company’s stock, valued at $30,596,663.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Immunovant news, CEO Peter Salzmann sold 34,079 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total transaction of $990,335.74. Following the transaction, the chief executive officer now owns 1,052,879 shares of the company’s stock, valued at $30,596,663.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Eva Renee Barnett sold 2,930 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total value of $105,919.50. Following the completion of the sale, the chief financial officer now directly owns 320,420 shares of the company’s stock, valued at $11,583,183. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,560 shares of company stock valued at $2,424,601. 4.80% of the stock is owned by insiders.

About Immunovant

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.