Victory Capital Management Inc. Has $9.56 Million Stake in Immunovant, Inc. (NASDAQ:IMVT)

Victory Capital Management Inc. boosted its holdings in Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335,360 shares of the company's stock after acquiring an additional 22,990 shares during the period. Victory Capital Management Inc. owned about 0.23% of Immunovant worth $9,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IMVT. Vanguard Group Inc. lifted its position in Immunovant by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company's stock valued at $209,314,000 after purchasing an additional 650,506 shares during the last quarter. Armistice Capital LLC raised its stake in Immunovant by 57.0% during the 2nd quarter. Armistice Capital LLC now owns 3,396,909 shares of the company's stock valued at $89,678,000 after acquiring an additional 1,232,909 shares in the last quarter. Alpine Global Management LLC grew its stake in shares of Immunovant by 34.6% in the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company's stock worth $60,830,000 after purchasing an additional 484,332 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Immunovant by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company's stock worth $60,163,000 after purchasing an additional 259,481 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Immunovant by 69.9% during the third quarter. Principal Financial Group Inc. now owns 951,124 shares of the company's stock valued at $27,117,000 after purchasing an additional 391,436 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Immunovant

In other news, CEO Peter Salzmann sold 16,692 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.45, for a total transaction of $424,811.40. Following the transaction, the chief executive officer now owns 978,097 shares of the company's stock, valued at approximately $24,892,568.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark S. Levine sold 3,650 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.45, for a total value of $92,892.50. Following the completion of the transaction, the insider now directly owns 319,228 shares in the company, valued at $8,124,352.60. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,659 shares of company stock worth $2,096,890 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Immunovant Stock Performance

Shares of NASDAQ IMVT traded up $0.33 during mid-day trading on Friday, reaching $26.87. The company had a trading volume of 523,428 shares, compared to its average volume of 1,078,249. Immunovant, Inc. has a twelve month low of $24.61 and a twelve month high of $45.58. The stock's 50 day moving average is $29.08 and its 200-day moving average is $28.91. The stock has a market capitalization of $3.94 billion, a PE ratio of -12.10 and a beta of 0.66.

Immunovant (NASDAQ:IMVT - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.15). During the same period in the prior year, the business earned ($0.45) earnings per share. On average, sell-side analysts anticipate that Immunovant, Inc. will post -2.7 EPS for the current year.

Analyst Ratings Changes

IMVT has been the subject of several research analyst reports. Oppenheimer upped their price objective on shares of Immunovant from $47.00 to $53.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. HC Wainwright reiterated a "buy" rating and set a $51.00 price objective on shares of Immunovant in a research note on Friday, November 8th. UBS Group lowered their price target on Immunovant from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Raymond James restated an "outperform" rating and set a $36.00 price objective on shares of Immunovant in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunovant in a report on Monday, September 9th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunovant has an average rating of "Buy" and an average price target of $48.10.

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.