Roivant Sciences Ltd. (NASDAQ:ROIV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $17.93.

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, November 13th. Finally, Bank of America lifted their price target on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th.

Roivant Sciences Price Performance

NASDAQ:ROIV opened at $11.16 on Thursday. Roivant Sciences has a 1-year low of $8.56 and a 1-year high of $13.06. The company has a 50-day moving average of $11.75 and a 200 day moving average of $11.32. The firm has a market cap of $8.25 billion, a PE ratio of 1.98 and a beta of 1.24.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the sale, the chief executive officer now owns 17,870,543 shares of the company’s stock, valued at approximately $210,693,701.97. The trade was a 9.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Financial Lp Qvt sold 876,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $11.82, for a total transaction of $10,354,320.00. Following the completion of the transaction, the director now directly owns 22,179,358 shares of the company’s stock, valued at approximately $262,160,011.56. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,577,309 shares of company stock valued at $42,151,184 in the last quarter. 7.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in Roivant Sciences by 23.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock worth $89,400,000 after buying an additional 1,460,205 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Roivant Sciences in the third quarter worth $131,000. Barclays PLC raised its holdings in shares of Roivant Sciences by 19.7% during the third quarter. Barclays PLC now owns 459,521 shares of the company’s stock worth $5,302,000 after purchasing an additional 75,609 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Roivant Sciences by 15.6% during the third quarter. Public Employees Retirement System of Ohio now owns 154,495 shares of the company’s stock valued at $1,783,000 after purchasing an additional 20,868 shares during the period. Finally, Raab & Moskowitz Asset Management LLC purchased a new stake in Roivant Sciences in the third quarter valued at $127,000. 64.76% of the stock is owned by institutional investors and hedge funds.

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.