Immunovant, Inc. (NASDAQ:IMVT) Stock Holdings Lifted by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. increased its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,117,234 shares of the company's stock after acquiring an additional 1,786,217 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.01% of Immunovant worth $126,754,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. KBC Group NV boosted its position in shares of 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 buying an additional 1,163 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Immunovant during the 4th quarter valued at $268,000. Aigen Investment Management LP acquired a new position in Immunovant during the 4th quarter worth $270,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Immunovant by 138.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 14,276 shares of the company's stock worth $353,000 after purchasing an additional 8,289 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Immunovant by 18.5% during the fourth quarter. Teacher Retirement System of Texas now owns 15,203 shares of the company's stock valued at $377,000 after purchasing an additional 2,373 shares during the period. Institutional investors own 47.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IMVT. HC Wainwright reiterated a "buy" rating and issued a $51.00 target price on shares of Immunovant in a research report on Wednesday, March 19th. Bank of America decreased their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, March 20th. UBS Group reissued a "neutral" rating and set a $17.00 target price (down previously from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Wolfe Research downgraded Immunovant from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group started coverage on Immunovant in a research report on Monday, March 3rd. They set a "hold" rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Immunovant Stock Performance

Shares of NASDAQ:IMVT traded up $0.70 during midday trading on Monday, reaching $15.42. The company had a trading volume of 1,444,804 shares, compared to its average volume of 1,200,392. The company has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $23.02. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -5.89 and a beta of 0.81. Immunovant, Inc. has a 1-year low of $12.72 and a 1-year high of $34.47.

Immunovant (NASDAQ:IMVT - Get Free Report) 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). Analysts expect that Immunovant, Inc. will post -2.69 EPS for the current year.

Insider Buying and Selling

In other news, insider Michael Geffner sold 2,349 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total value of $34,741.71. Following the completion of the sale, the insider now owns 225,370 shares of the company's stock, valued at $3,333,222.30. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew J. Fromkin sold 8,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $19.60, for a total value of $156,800.00. Following the transaction, the director now directly owns 91,913 shares in the company, valued at $1,801,494.80. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,682 shares of company stock valued at $753,419. Company insiders own 5.90% of the company's stock.

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.