Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.81 and last traded at $16.71, with a volume of 1172260 shares trading hands. The stock had previously closed at $16.40.
Analyst Ratings Changes
ROIV has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Roivant Sciences from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Weiss Ratings reissued a "sell (d+)" rating on shares of Roivant Sciences in a report on Wednesday, October 8th. HC Wainwright lifted their price target on Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Bank of America lifted their price target on Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Finally, Jefferies Financial Group lifted their price target on Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Roivant Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.94.
Check Out Our Latest Research Report on ROIV
Roivant Sciences Trading Up 4.4%
The company has a 50 day moving average price of $13.64 and a 200-day moving average price of $11.87. The company has a market cap of $11.69 billion, a P/E ratio of -24.41 and a beta of 1.20.
Insider Buying and Selling
In other news, CEO Matthew Gline purchased 3,315 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were acquired at an average cost of $15.07 per share, with a total value of $49,957.05. Following the purchase, the chief executive officer owned 17,287,081 shares in the company, valued at $260,516,310.67. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Venker sold 20,727 shares of the company's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $16.25, for a total value of $336,813.75. Following the completion of the transaction, the chief executive officer directly owned 1,504,959 shares of the company's stock, valued at approximately $24,455,583.75. This represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,477,575 shares of company stock worth $63,132,136 in the last 90 days. Insiders own 10.80% of the company's stock.
Hedge Funds Weigh In On Roivant Sciences
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its stake in shares of Roivant Sciences by 1,076.2% during the third quarter. Voya Investment Management LLC now owns 497,823 shares of the company's stock valued at $7,532,000 after buying an additional 455,497 shares during the last quarter. Wedmont Private Capital grew its position in shares of Roivant Sciences by 19.3% during the 3rd quarter. Wedmont Private Capital now owns 13,215 shares of the company's stock valued at $213,000 after acquiring an additional 2,136 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Roivant Sciences by 4.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 59,764 shares of the company's stock worth $904,000 after buying an additional 2,731 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Roivant Sciences by 16.6% in the 3rd quarter. GAMMA Investing LLC now owns 9,302 shares of the company's stock valued at $141,000 after acquiring an additional 1,324 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in Roivant Sciences in the second quarter worth about $1,145,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
Roivant Sciences Company Profile
(
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.
Further Reading
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