Roivant Sciences (NASDAQ:ROIV - Get Free Report) had its price objective increased by analysts at Leerink Partners from $18.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Leerink Partners' price target would suggest a potential upside of 46.28% from the company's previous close.
Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target for the company in a report on Thursday, July 10th. HC Wainwright increased 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. Finally, Citigroup started coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Roivant Sciences currently has an average rating of "Buy" and a consensus price target of $19.94.
Read Our Latest Stock Analysis on ROIV
Roivant Sciences Trading Down 0.3%
Shares of NASDAQ ROIV traded down $0.05 during mid-day trading on Thursday, reaching $15.04. The company had a trading volume of 11,798,795 shares, compared to its average volume of 8,213,446. The stock has a market cap of $10.27 billion, a P/E ratio of -21.49 and a beta of 1.15. The firm has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $11.28. Roivant Sciences has a 52-week low of $8.73 and a 52-week high of $16.05.
Insider Activity at Roivant Sciences
In other news, CEO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00. Following the sale, the chief executive officer owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Gline acquired 3,315 shares of the stock in a transaction dated Thursday, September 18th. The stock was bought at an average price of $15.07 per share, for a total transaction of $49,957.05. Following the purchase, the chief executive officer owned 17,287,081 shares of the company's stock, valued at $260,516,310.67. The trade was a 0.02% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 1,975,749 shares of company stock valued at $24,780,210. 10.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Roivant Sciences
Institutional investors and hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new position in shares of Roivant Sciences in the second quarter valued at about $1,145,000. Osaic Holdings Inc. raised its holdings in Roivant Sciences by 204.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,783 shares of the company's stock worth $65,000 after purchasing an additional 3,882 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Roivant Sciences during the 2nd quarter worth about $117,000. State of Wyoming acquired a new position in shares of Roivant Sciences during the 2nd quarter worth about $159,000. Finally, Headlands Technologies LLC grew its position in shares of Roivant Sciences by 11,882.5% during the 2nd quarter. Headlands Technologies LLC now owns 162,003 shares of the company's stock worth $1,826,000 after buying an additional 160,651 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.
About Roivant Sciences
(
Get Free Report)
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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