Roivant stock set for new test after big move on drug data
Roivant Sciences shares rose 1.2% to $30.31 in light premarket trading Tuesday after last week’s 14% surge on positive IMVT-1402 drug data. Immunovant, developing the autoimmune drug, jumped 31% last week despite reporting a larger loss than expected. BofA raised its price target to $31.50 but kept a Neutral rating, while Citi and TD Cowen lifted targets and maintained Buy calls. U.S. markets reopened after the Memorial Day holiday.