Roivant Sciences (NASDAQ:ROIV) Reaches New 12-Month High – Time to Buy?

Roivant Sciences Ltd. (NASDAQ:ROIV)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $20.24 and last traded at $20.1510, with a volume of 5231448 shares trading hands. The stock had previously closed at $19.87.

Analysts Set New Price Targets

Several brokerages recently weighed in on ROIV. HC Wainwright raised their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. The Goldman Sachs Group upped their price objective on shares of Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Jefferies Financial Group increased their price target on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Finally, Citigroup upped their price target on Roivant Sciences from $16.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and an average price target of $21.06.

Roivant Sciences Price Performance

The firm has a market cap of $13.77 billion, a PE ratio of -28.86 and a beta of 1.23. The business has a fifty day moving average price of $15.65 and a two-hundred day moving average price of $12.81.

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 value of $14,937,500.00. Following the transaction, the insider directly owned 36,089,108 shares of the company’s stock, valued at $451,113,850. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Venker sold 683,818 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the completion of the transaction, the chief executive officer owned 1,969,767 shares in the company, valued at $29,448,016.65. This trade represents a 25.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 5,228,958 shares of company stock worth $76,447,638. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Roivant Sciences

A number of institutional investors and hedge funds have recently modified their holdings of ROIV. Jones Financial Companies Lllp grew its stake in shares of Roivant Sciences by 226.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock valued at $25,000 after acquiring an additional 1,148 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Roivant Sciences by 41.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after acquiring an additional 543 shares during the last quarter. CWM LLC lifted its stake in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after buying an additional 920 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Roivant Sciences by 94.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock valued at $46,000 after buying an additional 2,233 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in Roivant Sciences by 204.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,783 shares of the company’s stock worth $65,000 after buying an additional 3,882 shares in the last quarter. 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.