Weiss Ratings Reaffirms "Sell (D+)" Rating for Roivant Sciences (NASDAQ:ROIV)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for Roivant Sciences (NASDAQ:ROIV) in their latest report, indicating continued skepticism about the company's performance.
• Despite Weiss Ratings' stance, several analysts, including Guggenheim and Goldman Sachs, have issued "buy" ratings and raised their price targets for Roivant Sciences, with an average target price of $19.94.
• Insider trading activity has been significant, with major shareholder Vivek Ramaswamy selling over 1.1 million shares, resulting in a notable decrease in his stake in the company.

Roivant Sciences (NASDAQ:ROIV - Get Free Report)'s stock had its "sell (d+)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

ROIV has been the topic of several other research reports. Guggenheim increased their target price on shares of Roivant Sciences from $15.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. HC Wainwright increased their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Jefferies Financial Group increased their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Citigroup began coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Roivant Sciences from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.94.

Roivant Sciences Trading Down 0.6%

Shares of ROIV opened at $16.03 on Wednesday. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $16.79. The company has a market cap of $10.95 billion, a P/E ratio of -22.90 and a beta of 1.20. The company's fifty day simple moving average is $13.26 and its 200-day simple moving average is $11.71.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the transaction, the insider owned 36,089,108 shares of the company's stock, valued at approximately $451,113,850. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Venker sold 683,818 shares of the firm's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the transaction, the chief executive officer directly owned 1,969,767 shares in the company, valued at $29,448,016.65. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,351,908 shares of company stock worth $61,084,800 in the last three months. Insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ROIV. UMB Bank n.a. increased its position in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after purchasing an additional 2,195 shares during the period. GAMMA Investing LLC increased its position in Roivant Sciences by 83.0% during the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after purchasing an additional 2,945 shares during the period. Assenagon Asset Management S.A. purchased a new position in Roivant Sciences during the 1st quarter valued at about $570,000. Fifth Third Bancorp boosted its holdings in shares of Roivant Sciences by 59.3% in the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after buying an additional 1,905 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. boosted its holdings in shares of Roivant Sciences by 3.5% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company's stock valued at $17,226,000 after buying an additional 58,206 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

About Roivant Sciences

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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