Teacher Retirement System of Texas Buys 2,919 Shares of Immunovant, Inc. (NASDAQ:IMVT)

Teacher Retirement System of Texas lifted its stake in shares of Immunovant, Inc. (NASDAQ:IMVT) by 19.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,122 shares of the company’s stock after acquiring an additional 2,919 shares during the quarter. Teacher Retirement System of Texas’ holdings in Immunovant were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in shares of Immunovant by 4.5% during the fourth quarter. FMR LLC now owns 13,097,915 shares of the company’s stock worth $324,435,000 after acquiring an additional 560,344 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 20,614 shares during the last quarter. Deep Track Capital LP raised its position in shares of Immunovant by 38.0% during the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock worth $148,620,000 after acquiring an additional 1,652,536 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Immunovant by 53.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company’s stock worth $126,754,000 after acquiring an additional 1,786,217 shares during the last quarter. Finally, Alpine Global Management LLC raised its position in shares of Immunovant by 14.7% during the fourth quarter. Alpine Global Management LLC now owns 2,158,904 shares of the company’s stock worth $53,476,000 after acquiring an additional 276,200 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IMVT has been the subject of several recent analyst reports. The Goldman Sachs Group raised Immunovant to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, July 10th. UBS Group reaffirmed a “neutral” rating and set a $17.00 target price (down previously from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Immunovant presently has a consensus rating of “Moderate Buy” and an average target price of $36.30.

Insider Buying and Selling

In related news, insider Michael Geffner sold 2,349 shares of Immunovant stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $14.79, for a total transaction of $34,741.71. Following the transaction, the insider owned 225,370 shares of the company’s stock, valued at $3,333,222.30. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jay S. Stout sold 1,519 shares of Immunovant stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $17.24, for a total value of $26,187.56. Following the transaction, the chief technology officer directly owned 207,724 shares in the company, valued at approximately $3,581,161.76. The trade was a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,953 shares of company stock valued at $109,398 in the last three months. Insiders own 1.80% of the company’s stock.

Immunovant Stock Performance

Shares of Immunovant stock opened at $17.91 on Friday. Immunovant, Inc. has a 52 week low of $12.72 and a 52 week high of $34.47. The stock has a 50 day moving average price of $15.86 and a two-hundred day moving average price of $17.94. The stock has a market capitalization of $3.06 billion, a PE ratio of -6.54 and a beta of 0.63.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.08. The firm had revenue of $0.16 million during the quarter. During the same period in the previous year, the business earned ($0.52) earnings per share. Research analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current year.

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.