Why Immunovant Stock Is Skyrocketing This Week

Why Immunovant Stock Is Skyrocketing This Week

Shares of Immunovant (NASDAQ: IMVT) were skyrocketing 75.1% higher this week as of 3:42 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence. Most of this big gain came after the company announced a public offering on Tuesday to sell 12.5 million shares. Immunovant is issuing 12.5 million new shares, representing roughly 10.7% of its outstanding shares.