Roivant Sciences (NASDAQ:ROIV) Hits New 52-Week High - Should You Buy?

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $11.69 and last traded at $11.62, with a volume of 6880813 shares. The stock had previously closed at $11.29.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Monday, April 21st. Cantor Fitzgerald raised Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th.

Roivant Sciences Stock Down 0.9 %

The company has a market capitalization of $8.19 billion, a PE ratio of -76.53 and a beta of 1.25. The stock's fifty day moving average price is $10.42 and its two-hundred day moving average price is $11.14.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the completion of the transaction, the chief operating officer now owns 1,116,345 shares of the company's stock, valued at approximately $11,409,045.90. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rakhi Kumar sold 227,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the sale, the chief accounting officer now directly owns 163,264 shares in the company, valued at $1,702,843.52. This represents a 58.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,395,541 shares of company stock valued at $14,922,538. Corporate insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On Roivant Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Roivant Sciences by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company's stock worth $40,362,000 after buying an additional 560,641 shares during the last quarter. GF Fund Management CO. LTD. raised its stake in Roivant Sciences by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 18,641 shares of the company's stock valued at $188,000 after buying an additional 3,356 shares during the last quarter. Penn Davis Mcfarland Inc. boosted its holdings in Roivant Sciences by 3.5% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company's stock worth $17,226,000 after acquiring an additional 58,206 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after acquiring an additional 1,905 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Roivant Sciences during the first quarter valued at $570,000. Institutional investors own 64.76% of the company's stock.

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.