Why Immunovant Stock Is Soaring Today

Why Immunovant Stock Is Soaring Today

Shares of clinical-stage biopharmaceutical company Immunovant (NASDAQ: IMVT) are on fire on Monday. Immunovant did not report any news, but its majority stakeholder, Roivant Sciences, announced that it would offer to buy out the remaining shares of Immunovant it does not already own. Roivant Sciences is a privately owned biopharmaceutical company that currently owns 57.5% of the outstanding shares of Immunovant.