Roivant Sciences (NASDAQ:ROIV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. increased its price target for Roivant Sciences from $16.00 to $20.00, indicating a potential upside of 31.14% from its previous close.
• Other analysts, including The Goldman Sachs Group and HC Wainwright, have also raised their ratings, with a consensus price target of $19.21.
• Insider selling activity includes CEO Eric Venker selling 100,000 shares and major shareholder Vivek Ramaswamy selling 385,816 shares, indicating a shift in insider holdings.

Roivant Sciences (NASDAQ:ROIV - Free Report) had its target price lifted by JPMorgan Chase & Co. from $16.00 to $20.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ROIV has been the topic of a number of other research reports. Citigroup assumed coverage on shares of Roivant Sciences in a report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 target price on the stock. The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a research note on Thursday, July 10th. HC Wainwright raised their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday. Leerink Partners lifted their target price on shares of Roivant Sciences from $18.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Bank of America boosted their target price on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Roivant Sciences presently has a consensus rating of "Buy" and a consensus target price of $19.94.

Roivant Sciences Price Performance

NASDAQ ROIV traded down $0.05 during trading on Thursday, reaching $15.04. 11,798,795 shares of the company's stock were exchanged, compared to its average volume of 8,213,446. The business has a 50 day moving average price of $12.22 and a 200-day moving average price of $11.28. The stock has a market capitalization of $10.27 billion, a P/E ratio of -21.49 and a beta of 1.15. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $16.05.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total value of $14,937,500.00. Following the completion of the transaction, the insider owned 36,089,108 shares of the company's stock, valued at $451,113,850. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew Gline bought 3,315 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was acquired at an average price of $15.07 per share, for a total transaction of $49,957.05. Following the acquisition, the chief executive officer directly owned 17,287,081 shares in the company, valued at $260,516,310.67. This trade represents a 0.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 1,975,749 shares of company stock worth $24,780,210. Company insiders own 10.80% of the company's stock.

Institutional Trading of Roivant Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Roivant Sciences by 44.6% in the second quarter. CWM LLC now owns 2,984 shares of the company's stock worth $34,000 after buying an additional 920 shares during the period. Parallel Advisors LLC lifted its position in Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after acquiring an additional 1,108 shares in the last quarter. M&T Bank Corp lifted its position in Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company's stock valued at $144,000 after acquiring an additional 1,181 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Roivant Sciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company's stock valued at $173,000 after buying an additional 1,434 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Roivant Sciences by 22.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,978 shares of the company's stock worth $90,000 after purchasing an additional 1,485 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

About Roivant Sciences

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.