Roivant Sciences Ltd. (NASDAQ:ROIV) Receives $16.38 Consensus Price Target from Analysts

Key Points

• Roivant Sciences Ltd. (NASDAQ:ROIV) has been given an average recommendation of "Buy" by five research firms, with a target price averaging $16.375 per share among analysts.
• Significant insider trading activity includes major shareholder Vivek Ramaswamy selling 577,007 shares for over $6.6 million, reducing his ownership by 1.52%.
• Hedge funds have increased their positions in Roivant Sciences, with notable increases including Parallel Advisors raising their stake by 80.5% in the first quarter.

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) have been given a consensus rating of "Buy" by the five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.3750.

Several equities research analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th. The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a research note on Thursday, July 10th. Finally, Citigroup assumed coverage on shares of Roivant Sciences in a research note on Tuesday. They set a "buy" rating and a $16.00 target price on the stock.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the sale, the chief executive officer owned 1,653,585 shares of the company's stock, valued at $19,380,016.20. The trade was a 5.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 385,816 shares of Roivant Sciences stock in a transaction on Friday, September 5th. The stock was sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the sale, the insider directly owned 35,508,359 shares in the company, valued at approximately $460,188,332.64. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,218,022 shares of company stock worth $39,010,006. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Roivant Sciences by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company's stock valued at $40,362,000 after purchasing an additional 560,641 shares during the period. GAMMA Investing LLC grew its holdings in shares of Roivant Sciences by 83.0% in the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after purchasing an additional 2,945 shares during the period. UMB Bank n.a. grew its holdings in shares of Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after purchasing an additional 2,195 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at about $318,000. Finally, Northern Trust Corp grew its holdings in shares of Roivant Sciences by 23.3% in the fourth quarter. Northern Trust Corp now owns 3,448,082 shares of the company's stock valued at $40,791,000 after purchasing an additional 652,615 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Price Performance

NASDAQ ROIV traded up $0.35 on Tuesday, hitting $12.92. The company had a trading volume of 8,593,965 shares, compared to its average volume of 5,242,693. The company has a market capitalization of $8.82 billion, a PE ratio of -18.46 and a beta of 1.15. The company's fifty day moving average price is $11.59 and its 200-day moving average price is $11.02. Roivant Sciences has a 12-month low of $8.73 and a 12-month high of $13.08.

Roivant Sciences Company Profile

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.