Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $13.55 and last traded at $13.48, with a volume of 9804613 shares trading hands. The stock had previously closed at $12.91.
Analyst Upgrades and Downgrades
ROIV has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, June 18th. Citigroup initiated coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy" and an average target price of $17.67.
Read Our Latest Research Report on Roivant Sciences
Roivant Sciences Trading Down 1.5%
The stock's fifty day moving average is $11.86 and its two-hundred day moving average is $11.14. The firm has a market cap of $9.47 billion, a P/E ratio of -19.82 and a beta of 1.15.
Insiders Place Their Bets
In other news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the 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 transaction, the insider owned 36,089,108 shares of the company's stock, valued at $451,113,850. This represents a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Venker sold 100,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,653,585 shares in the company, valued at $19,380,016.20. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,218,022 shares of company stock worth $39,010,006 in the last three months. Insiders own 10.80% of the company's stock.
Hedge Funds Weigh In On Roivant Sciences
A number of institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC bought a new position in shares of Roivant Sciences in the 2nd quarter worth $1,145,000. Osaic Holdings Inc. boosted its stake in shares of Roivant Sciences by 204.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,783 shares of the company's stock valued at $65,000 after purchasing an additional 3,882 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new stake in shares of Roivant Sciences in the 2nd quarter valued at $117,000. State of Wyoming purchased a new stake in shares of Roivant Sciences in the 2nd quarter valued at $159,000. Finally, Headlands Technologies LLC boosted its stake in shares of Roivant Sciences by 11,882.5% in the 2nd quarter. Headlands Technologies LLC now owns 162,003 shares of the company's stock valued at $1,826,000 after purchasing an additional 160,651 shares in the last quarter. Institutional investors 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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