New York, May 26, 2026, 06:05 EDT
Roivant Sciences shares traded up in quiet premarket action Tuesday, showing a move after last week’s jump on drug data and the U.S. market holiday. The Nasdaq stock stood at $30.31 before the open, gaining 1.2% from Friday’s $29.96 close, with just 384 shares changing hands early.
Timing is key. U.S. stock markets were shut for Memorial Day on Monday. Nasdaq’s regular hours are 9:30 a.m. to 4 p.m. Eastern, with premarket trading from 4 a.m. to 9:30 a.m. Eastern. Premarket is outside the main session and usually sees lighter liquidity.
Roivant’s big move puts buyers to the test now. BofA’s Chi Fong bumped up his price target to $31.50 from $29.50 but kept a Neutral call, pointing to “balanced risk/reward” at these prices. TD Cowen and Citi both raised their targets too, to $41 and $42, sticking with their Buy ratings after the IMVT-1402 data. TipRanks
IMVT-1402 is Roivant’s autoimmune drug in development at Immunovant. Roivant reported Week 16 response rates with the drug of 72.7% on ACR20, 54.5% on ACR50, and 35.8% on ACR70 in hard-to-treat rheumatoid arthritis patients—patients who haven’t responded to several other drugs. ACR20 is a standard measurement that tracks a 20% improvement in joint symptoms and other benchmarks. CEO Matt Gline called the results “exciting potential” for those who failed earlier treatments. GlobeNewswire
Shares of Immunovant surged 31% and Roivant gained 14% last week after new data, Barron’s said, despite Roivant missing on revenue and Immunovant reporting a larger loss than forecast.
The risks around Roivant are clear. Its annual filing puts cash, cash equivalents and marketable securities at $4.29 billion as of March 31, plus a $770.2 million gain from the Moderna settlement. Still, the company says clinical trials are expensive and uncertain and may not lead to approval. Early trial wins do not guarantee that later, controlled trials or regulators will agree.
The competitive pressure is getting stronger. IMVT-1402 hits FcRn, or neonatal Fc receptor, which helps keep IgG antibodies in the blood. Blocking FcRn cuts down autoantibodies linked to certain immune diseases. Argenx sells VYVGART, the first FcRn blocker on the market, so investors have a public benchmark for this target. Roivant is taking IMVT-1402 into multiple autoimmune settings.
Looking to next week, Roivant’s trading could hinge less on premarket ticks and more on whether money keeps coming in for the company’s clinical pipeline in the back half of the year. Citi lifted its target, flagging potential gains from 2026 data, but BofA held to Neutral, showing some firms are cautious about following the rally.
ROIV faces a tight call early Tuesday: does the after-hours buying turn into real-session demand, or do investors hold off for the next scheduled data release?
