Victory Capital Management Inc. Has $13.72 Million Stock Holdings in Immunovant, Inc. (NASDAQ:IMVT)

Victory Capital Management Inc. lessened its position in shares of Immunovant, Inc. (NASDAQ:IMVT - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 325,534 shares of the company's stock after selling 47,237 shares during the quarter. Victory Capital Management Inc. owned about 0.23% of Immunovant worth $13,715,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Immunovant by 3.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,774 shares of the company's stock valued at $606,000 after acquiring an additional 460 shares during the period. Alps Advisors Inc. grew its position in Immunovant by 0.6% in the 3rd quarter. Alps Advisors Inc. now owns 96,434 shares of the company's stock valued at $3,702,000 after buying an additional 578 shares during the last quarter. Headlands Technologies LLC acquired a new position in Immunovant in the 4th quarter valued at $27,000. CoreCap Advisors LLC lifted its stake in shares of Immunovant by 11.2% in the 4th quarter. CoreCap Advisors LLC now owns 6,407 shares of the company's stock worth $270,000 after acquiring an additional 647 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Immunovant by 10.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,370 shares of the company's stock worth $437,000 after acquiring an additional 951 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

Analyst Ratings Changes

IMVT has been the subject of a number of recent analyst reports. Truist Financial restated a "buy" rating and issued a $48.00 price objective on shares of Immunovant in a research report on Monday, March 25th. Wolfe Research started coverage on Immunovant in a report on Thursday, February 15th. They issued an "outperform" rating and a $55.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Immunovant in a research note on Wednesday, March 13th. They set a "buy" rating and a $50.00 price target on the stock. Oppenheimer initiated coverage on shares of Immunovant in a research note on Thursday, March 28th. They issued an "outperform" rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an "overweight" rating and a $51.00 target price on the stock. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunovant presently has an average rating of "Buy" and an average price target of $48.00.

Immunovant Stock Down 1.0 %

Shares of IMVT traded down $0.31 on Friday, hitting $29.39. 1,272,466 shares of the stock traded hands, compared to its average volume of 1,071,845. Immunovant, Inc. has a 1 year low of $17.53 and a 1 year high of $45.58. The stock's 50 day moving average is $30.50 and its two-hundred day moving average is $35.28. The firm has a market capitalization of $4.27 billion, a P/E ratio of -15.97 and a beta of 0.70.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings data on Monday, February 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. Research analysts forecast that Immunovant, Inc. will post -1.7 EPS for the current year.

Insider Activity at Immunovant

In related news, CTO Jay S. Stout sold 7,239 shares of Immunovant stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $209,207.10. Following the transaction, the chief technology officer now owns 147,739 shares in the company, valued at $4,269,657.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Michael Geffner sold 3,261 shares of Immunovant stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total transaction of $94,242.90. Following the transaction, the insider now owns 141,616 shares in the company, valued at approximately $4,092,702.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jay S. Stout sold 7,239 shares of the firm's stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $209,207.10. Following the completion of the transaction, the chief technology officer now directly owns 147,739 shares in the company, valued at $4,269,657.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,560 shares of company stock worth $2,424,601. 4.80% of the stock is owned by company insiders.

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.