We recently published a list of 10 Stocks Insiders Spent The Most Money On Recently. In this article, we are going to take a look at where Immunovant, Inc. (NASDAQ:IMVT) stands against other stocks insiders spent the most money on recently.
As the broader market continues to rise this year, we thought it would be interesting to highlight some stocks that have seen significant insider buying recently. Insiders—such as executives and directors—often have valuable insights into a company’s strategy, plans, and future initiatives. For instance, when a CEO or CFO invests their own money to purchase company shares, it can be seen as a strong vote of confidence in the company’s prospects. When an insider makes a substantial financial commitment, it often signals an even higher level of confidence in the company’s future performance.
Why should we be interested in insider trading activity? While both insider selling and buying can be driven by various motives, it is important to consider these moves within the broader context of the company’s fundamentals, industry trends, and overall market conditions. That’s why due diligence before any investment is of the utmost importance. However, insider trading activity in combination with other relevant determinants can offer valuable insights into a company’s capabilities, helping investors make more informed investment decisions.
What are some of the stocks that have seen the most insider investment recently? To find out, we used Insider Monkey’s insider trading stock screener, focusing only on stocks where each individual insider purchase was valued at $2 million or more. This means the total value of insider purchases over the same period (last 60 days) could be higher, but only larger purchases were considered in the search.
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With each stock, we note the value of acquired shares, which refers to the value of shares acquired through individual insider purchases worth at least $2 million each.
A closeup of a scientist working with a microscope in a biotech laboratory.
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, Inc. (NASDAQ:IMVT). 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 (NASDAQ:IMVT)’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 13th, 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 (NASDAQ:IMVT) is also one of 12 Stocks That Will Double in 2025.
Overall, IMVT ranks 2nd on our list of stocks insiders spent the most money on recently. While we acknowledge the potential of IMVT our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IMVT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
