Roivant Sciences (NASDAQ:ROIV) Sets New 1-Year High - Here's Why

Key Points

• Roivant Sciences shares reached a new 52-week high of $37.19 during Monday trading, with a market capitalization of approximately $26.17 billion.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and recent price-target increases from Guggenheim to $42 and HC Wainwright to $41. However, the consensus target of $35.14 is below the stock’s recent trading level.
• Institutional investors own 64.76% of the company and several funds increased their holdings, while insiders sold approximately 2.06 million shares worth $69.6 million during the last quarter.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $37.19 and last traded at $36.0760, with a volume of 344863 shares changing hands. The stock had previously closed at $36.20.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ROIV. Weiss Ratings lowered shares of Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. Bank of America reaffirmed a "neutral" rating on shares of Roivant Sciences in a research report on Friday, July 31st. Piper Sandler reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Guggenheim boosted their price objective on Roivant Sciences from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, HC Wainwright increased their target price on Roivant Sciences from $34.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.14.

Roivant Sciences Stock Performance

The company has a 50-day moving average of $33.84 and a 200 day moving average of $29.96. The firm has a market cap of $26.17 billion, a P/E ratio of -68.39 and a beta of 1.12.

Insider Transactions at Roivant Sciences

In related news, Director Melissa B. Epperly sold 17,750 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $34.38, for a total transaction of $610,245.00. Following the completion of the sale, the director owned 16,474 shares in the company, valued at $566,376.12. This trade represents a 51.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 12,380 shares of Roivant Sciences stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.28, for a total transaction of $436,766.40. Following the transaction, the director directly owned 13,689,166 shares of the company's stock, valued at $482,953,776.48. This represents a 0.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,055,913 shares of company stock valued at $69,639,633. 8.80% of the stock is owned by insiders.

Institutional Trading of Roivant Sciences

Several hedge funds have recently modified their holdings of ROIV. Great Lakes Advisors LLC bought a new stake in shares of Roivant Sciences during the second quarter worth $3,815,000. Handelsbanken Fonder AB increased its stake in shares of Roivant Sciences by 51.4% in the second quarter. Handelsbanken Fonder AB now owns 177,209 shares of the company's stock valued at $6,271,000 after buying an additional 60,200 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Roivant Sciences by 18.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock valued at $295,965,000 after buying an additional 1,286,464 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Roivant Sciences by 17.4% in the second quarter. GAMMA Investing LLC now owns 14,637 shares of the company's stock valued at $518,000 after buying an additional 2,172 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Roivant Sciences by 13.9% during the 2nd quarter. Versant Capital Management Inc now owns 3,995 shares of the company's stock worth $141,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

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