Healthcare company Roivant Sciences (ROIV), one of the major investors of Immunovant (IMVT), recently bought shares of IMVT worth $336.9 million. IMVT is a clinical-stage biopharmaceutical company focused on developing novel therapies for autoimmune diseases.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Closer Look at the Insider’s Trade
According to the most recent SEC filing, Roivant bought 16.85 million shares of IMVT for $20 per share. With this purchase, Roivant Sciences’ total ownership in Immunovant increases to 96,650,341 shares.
It is worth noting that Roivant Sciences first invested in Immunovant in 2019 when IMVT went public via a special purpose acquisition company (SPAC) deal. This partnership allows Roivant to maintain a major ownership stake in Immunovant and support its development efforts.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company’s growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
BofA Analyst Maintains a Buy Rating on IMVT
Roivant Sciences’ latest investment is part of Immunovant’s plan to raise about $450 million in private investment in public equity (PIPE).
Following the offering, Bank of America analyst Jason Gerberry rated IMVT stock a Buy as he remains optimistic about the company’s risk and reward outlook in 2025. This optimism is based on the company’s progress with its neonatal Fc receptor (FcRn) programs, which have shown promising results in clinical trials.
The analyst lowered the price target to $45 (84.4% upside potential) from $48 to reflect the $3 per share impact of the PIPE.
Is IMVT a Good Stock to Buy Now?
Turning to Wall Street, IMVT stock has a Strong Buy consensus rating based on six Buys and one Hold assigned in the last three months. At $50.17, the average Immunovant price target implies a 105.6% upside potential. Shares of the company have declined 16.4% over the past three months.
