10 Stocks Insiders Spent The Most Money On Recently

2. Immunovant, Inc. (NASDAQ:IMVT)

Value Of Shares Acquired: $336,900,200.00

Market Cap: $3.55 billion

The second on the list of top stocks insiders have been investing heavily in is a biotechnology company, Immunovant. The biotech is engaged in the development of new treatments for autoimmune disorders. The company is considered a trailblazer in anti-FcRn technology, and the company is working on innovative, targeted therapies to improve the lives of people with various autoimmune diseases.

During the third quarter of 2024, the company reported that five investigational new drug applications cleared across several therapeutic areas and FDA divisions for its leading drug, IMVT-1402. The company also said it is on track to commence the registration trial for IMVT-1402 across several indications by the end of March this year.

As of December 31, 2024, Immunovant’s cash and cash equivalents totaled $374.7 million. In the third quarter of 2024, the company had a net loss of $111.1 million ($0.76 per common share), compared to $51.4 million ($0.36 per common share) for the three months ended December 31, 2023.

On January 13^th, one insider – Ltd. Sciences Roivant, acquired $336.9 million worth of Immunovant shares at a price of $20 per share. This way, Ltd. Sciences Roivant increased its holdings to 96,650,341. This purchase was part of the company’s $450 million private placement.

According to 8 Wall Street analysts, the average rating on Immunovant stock is “Strong Buy,” and a price target is set to $46.43 per share. This represents an increase of 120.57% from the previous price, according to data from TipRanks.

Immunovant shares are now trading at $20.89 per share, as the stock declined 15.66% since the beginning of the year. Over the last 12 months, the stock dropped 44.29%.

Immunovant is also one of 12 Stocks That Will Double in 2025.