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Is Immunovant Stock a Buy After Roivant Sciences Increased Its Stake by $350 Million?

The Motley Fool Logo The Motley Fool By Robert Izquierdo
Is Immunovant Stock a Buy After Roivant Sciences Increased Its Stake by $350 Million?

Roivant Sciences purchased 16.7 million shares of Immunovant for $350 million, increasing its ownership to 64.65% of outstanding shares. The biotech company focuses on monoclonal antibody therapies for autoimmune diseases and is currently in clinical trials for its lead drug candidate.

Insights
JCI   positive

Featured for innovative vision in next-generation data centre cooling technologies and AI infrastructure


IMVT   neutral

Company is in clinical stage with promising drug candidates, but faces uncertainty around FDA approval and clinical trial outcomes