Immunovant, Inc. (NASDAQ:IMVT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Immunovant, Inc. (NASDAQ:IMVT) by 86.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,100 shares of the company’s stock after selling 290,260 shares during the quarter. Victory Capital Management Inc.’s holdings in Immunovant were worth $1,117,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IMVT. KBC Group NV lifted its holdings in shares of Immunovant by 46.2% in the third quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after buying an additional 612 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in shares of Immunovant during the third quarter valued at $427,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Immunovant during the third quarter valued at $517,000. Intech Investment Management LLC purchased a new stake in shares of Immunovant during the third quarter valued at $622,000. Finally, ABC Arbitrage SA purchased a new stake in shares of Immunovant during the fourth quarter valued at $734,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Price Performance

IMVT opened at $18.88 on Thursday. Immunovant, Inc. has a fifty-two week low of $17.01 and a fifty-two week high of $35.97. The business has a 50-day moving average of $21.02 and a 200-day moving average of $25.83. The company has a market capitalization of $3.21 billion, a PE ratio of -7.21 and a beta of 0.68.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.08). On average, equities research analysts expect that Immunovant, Inc. will post -2.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IMVT shares. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Immunovant in a report on Wednesday. Cantor Fitzgerald raised Immunovant to a “strong-buy” rating in a report on Tuesday, March 4th. Bank of America reduced their target price on Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company reduced their price objective on Immunovant from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Jefferies Financial Group initiated coverage on Immunovant in a research note on Monday, March 3rd. They issued a “hold” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $42.90.

Insider Transactions at Immunovant

In related news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the acquisition, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William L. Macias sold 2,383 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.83, for a total value of $56,786.89. Following the transaction, the insider now directly owns 359,408 shares in the company, valued at approximately $8,564,692.64. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,510 shares of company stock valued at $813,686 in the last three months. Corporate 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.