Jump Financial LLC Has $3.21 Million Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Jump Financial LLC lifted its position in Immunovant, Inc. (NASDAQ:IMVT) by 111.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 129,668 shares of the company’s stock after buying an additional 68,312 shares during the quarter. Jump Financial LLC’s holdings in Immunovant were worth $3,212,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IMVT. FMR LLC increased its stake in shares of Immunovant by 4.5% during the 4th quarter. FMR LLC now owns 13,097,915 shares of the company’s stock worth $324,435,000 after purchasing an additional 560,344 shares during the last quarter. Vanguard Group Inc. increased its position in Immunovant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company’s stock worth $165,449,000 after buying an additional 20,614 shares during the last quarter. Geode Capital Management LLC raised its holdings in Immunovant by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,515,020 shares of the company’s stock valued at $37,536,000 after buying an additional 4,094 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Immunovant by 405.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company’s stock worth $28,568,000 after buying an additional 925,081 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Immunovant by 69.9% during the 3rd quarter. Principal Financial Group Inc. now owns 951,124 shares of the company’s stock worth $27,117,000 after acquiring an additional 391,436 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IMVT. Bank of America dropped their price target on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Jefferies Financial Group assumed coverage on Immunovant in a research report on Monday, March 3rd. They issued a “hold” rating and a $20.00 price target on the stock. Cantor Fitzgerald upgraded Immunovant to a “strong-buy” rating in a research note on Tuesday, March 4th. Wolfe Research downgraded Immunovant from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Guggenheim reissued a “buy” rating on shares of Immunovant in a report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $41.00.

Immunovant Price Performance

Shares of Immunovant stock opened at $15.15 on Friday. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $34.47. The business has a 50-day moving average of $18.14 and a two-hundred day moving average of $23.73. The company has a market capitalization of $2.57 billion, a P/E ratio of -5.78 and a beta of 0.81.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings data 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, equities analysts anticipate that Immunovant, Inc. will post -2.69 EPS for the current fiscal year.

Insider Transactions at Immunovant

In other Immunovant news, insider Michael Geffner sold 2,657 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.59, for a total transaction of $62,678.63. Following the sale, the insider now owns 132,314 shares of the company’s stock, valued at approximately $3,121,287.26. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter Salzmann sold 8,321 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $123,899.69. Following the transaction, the chief executive officer now owns 1,178,191 shares of the company’s stock, valued at $17,543,263.99. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,260 shares of company stock worth $804,665. 5.90% of the stock is owned by insiders.

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.