XTX Topco Ltd Buys New Holdings in Immunovant, Inc. $IMVT

XTX Topco Ltd acquired a new stake in Immunovant, Inc. (NASDAQ:IMVT) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 81,188 shares of the company’s stock, valued at approximately $1,299,000.

A number of other large investors have also added to or reduced their stakes in IMVT. KLP Kapitalforvaltning AS raised its holdings in shares of Immunovant by 73.1% during the first quarter. KLP Kapitalforvaltning AS now owns 18,700 shares of the company’s stock valued at $320,000 after acquiring an additional 7,900 shares in the last quarter. TD Asset Management Inc boosted its position in Immunovant by 19.8% during the 1st quarter. TD Asset Management Inc now owns 182,398 shares of the company’s stock valued at $3,117,000 after acquiring an additional 30,152 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Immunovant by 66.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the company’s stock worth $223,000 after purchasing an additional 5,200 shares during the period. Privium Fund Management B.V. purchased a new stake in shares of Immunovant in the 1st quarter worth about $1,230,000. Finally, ABC Arbitrage SA increased its stake in shares of Immunovant by 26.4% during the first quarter. ABC Arbitrage SA now owns 37,449 shares of the company’s stock valued at $640,000 after purchasing an additional 7,810 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Insider Activity

In related news, COO Melanie Gloria sold 12,626 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $23.62, for a total transaction of $298,226.12. Following the transaction, the chief operating officer directly owned 173,511 shares in the company, valued at $4,098,329.82. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Geffner sold 2,595 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $19.03, for a total transaction of $49,382.85. Following the completion of the transaction, the insider directly owned 217,958 shares of the company’s stock, valued at approximately $4,147,740.74. This represents a 1.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 20,598 shares of company stock worth $442,134. Insiders own 1.80% of the company’s stock.

Immunovant Stock Performance

Shares of NASDAQ IMVT opened at $24.36 on Friday. Immunovant, Inc. has a 52-week low of $12.72 and a 52-week high of $29.49. The stock has a 50 day moving average price of $20.22 and a 200 day moving average price of $17.39. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -8.58 and a beta of 0.60.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). During the same period in the prior year, the firm earned ($0.74) EPS. Analysts forecast that Immunovant, Inc. will post -2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IMVT shares. Bank of America decreased their target price on shares of Immunovant from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of Immunovant in a report on Monday, August 11th. Truist Financial initiated coverage on Immunovant in a report on Tuesday, October 14th. They issued a “hold” rating and a $16.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Immunovant in a report on Thursday, September 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.78.

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.