Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $13.55 and last traded at $13.48, with a volume of 9804613 shares changing hands. The stock had previously closed at $12.91.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. Citigroup started coverage on Roivant Sciences in a report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price target for the company. Finally, The Goldman Sachs Group upgraded Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a research report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $16.38.
Check Out Our Latest Stock Analysis on Roivant Sciences
Roivant Sciences Stock Up 4.4%
The company has a market cap of $9.21 billion, a PE ratio of -19.26 and a beta of 1.15. The business has a 50-day simple moving average of $11.67 and a 200-day simple moving average of $11.06.
Insider Activity at Roivant Sciences
In other Roivant Sciences news, CEO Eric Venker sold 100,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. The trade was a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 385,816 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $12.96, for a total value of $5,000,175.36. Following the sale, the insider owned 35,508,359 shares of the company's stock, valued at approximately $460,188,332.64. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,218,022 shares of company stock valued at $39,010,006. 10.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On Roivant Sciences
Several large investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after purchasing an additional 1,108 shares in the last quarter. CWM LLC lifted its stake in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company's stock worth $34,000 after purchasing an additional 920 shares in the last quarter. UMB Bank n.a. lifted its stake in Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after purchasing an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Roivant Sciences by 94.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after purchasing an additional 2,233 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Roivant Sciences by 59.3% in the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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