Roivant Sciences (NASDAQ:ROIV) Sets New 12-Month High - Should You Buy?

Key Points

• Roivant Sciences shares reached a new 52-week high of $16.79, closing at $16.26 with significant trading volume of over 7 million shares.
• Analysts have raised their price targets for Roivant, with predictions ranging from $16.50 to $22.00, and the average target currently sits at $19.94, indicating a "Moderate Buy" rating overall.
• Insider activity includes a substantial sale by major shareholder Vivek Ramaswamy of nearly 386,000 shares, while CEO Matthew Gline purchased additional shares, reflecting varying sentiments among insiders.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.79 and last traded at $16.26, with a volume of 7141267 shares trading hands. The stock had previously closed at $16.17.

Analysts Set New Price Targets

ROIV has been the subject of a number of research analyst reports. Bank of America lifted their target price on Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Jefferies Financial Group raised their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Leerink Partners boosted their target price on shares of Roivant Sciences from $18.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. increased their target price on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Finally, HC Wainwright raised their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Roivant Sciences currently has an average rating of "Moderate Buy" and an average price target of $19.94.

Roivant Sciences Stock Up 0.6%

The company has a market capitalization of $11.10 billion, a P/E ratio of -23.23 and a beta of 1.20. The firm's 50-day moving average price is $13.07 and its 200 day moving average price is $11.65.

Insiders Place Their Bets

In related news, major shareholder Vivek Ramaswamy sold 385,816 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the completion of the sale, the insider owned 35,508,359 shares in the company, valued at approximately $460,188,332.64. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew Gline acquired 3,315 shares of the company's stock in a transaction on Thursday, September 18th. The shares were bought at an average price of $15.07 per share, for a total transaction of $49,957.05. Following the completion of the purchase, the chief executive officer owned 17,287,081 shares in the company, valued at approximately $260,516,310.67. This represents a 0.02% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,686,749 shares of company stock valued at $50,302,987. Corporate insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after purchasing an additional 1,108 shares during the last quarter. CWM LLC boosted its stake in shares of 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 buying an additional 920 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after acquiring an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock valued at $46,000 after acquiring an additional 2,233 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after acquiring an additional 1,905 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Company Profile

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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