Roivant Sciences (NASDAQ:ROIV) Hits New 12-Month High - What's Next?

Key Points

• Shares of Roivant Sciences reached a new 52-week high of $18.06, currently trading at $17.74 with significant trading volume.
• Analysts have raised price targets for Roivant, with Goldman Sachs setting a target of $24.00, while the consensus price target is $19.94.
• Insider trading activity showed that CEO Eric Venker sold over 118,000 shares of the company's stock, reducing his ownership by 7.29%.

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.06 and last traded at $17.74, with a volume of 17724041 shares changing hands. The stock had previously closed at $17.26.

Analysts Set New Price Targets

ROIV has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Roivant Sciences from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. boosted their price target on Roivant Sciences from $16.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. HC Wainwright increased their price objective on Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Guggenheim lifted their price objective on Roivant Sciences from $15.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Roivant Sciences in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $19.94.

Roivant Sciences Trading Up 2.8%

The business has a 50 day simple moving average of $14.10 and a 200-day simple moving average of $12.09. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of -25.34 and a beta of 1.20.

Insider Activity

In related news, CEO Eric Venker sold 118,418 shares of the business's stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $17.06, for a total value of $2,020,211.08. Following the completion of the sale, the chief executive officer directly owned 1,504,959 shares in the company, valued at approximately $25,674,600.54. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,228,958 shares of company stock valued at $76,447,638 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Roivant Sciences

Several institutional investors have recently made changes to their positions in ROIV. Rubric Capital Management LP raised its position in shares of Roivant Sciences by 14.7% in the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock worth $229,574,000 after buying an additional 2,603,260 shares during the period. State Street Corp raised its holdings in shares of Roivant Sciences by 4.8% in the 2nd quarter. State Street Corp now owns 19,773,480 shares of the company's stock worth $222,847,000 after purchasing an additional 911,827 shares during the period. Two Seas Capital LP lifted its stake in shares of Roivant Sciences by 4.6% in the 2nd quarter. Two Seas Capital LP now owns 10,598,040 shares of the company's stock valued at $119,440,000 after purchasing an additional 461,733 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Roivant Sciences by 3.8% during the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock worth $99,695,000 after purchasing an additional 365,468 shares during the period. Finally, BlackBarn Capital Partners LP grew its holdings in shares of Roivant Sciences by 15.2% during the 1st quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company's stock worth $47,928,000 after purchasing an additional 625,000 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.

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.

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