Roivant Sciences (NASDAQ:ROIV) Reaches New 1-Year High – Time to Buy?

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) hit a new 52-week high during trading on Tuesday . The company traded as high as $18.06 and last traded at $17.74, with a volume of 17724041 shares trading hands. The stock had previously closed at $17.26.

Analyst Ratings Changes

A number of brokerages recently weighed in on ROIV. Leerink Partners upped their price target on shares of Roivant Sciences from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Guggenheim upped their target price on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Jefferies Financial Group increased their target price on 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 Roivant Sciences in a research report on Tuesday, September 2nd. They set a “buy” rating and a $16.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.94.

Roivant Sciences Price Performance

The stock has a 50-day moving average price of $14.10 and a 200-day moving average price of $12.09. The firm has a market capitalization of $12.11 billion, a PE ratio of -25.34 and a beta of 1.20.

Insider Buying and Selling

In other news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the completion of the transaction, the insider directly owned 36,089,108 shares in the company, valued at approximately $451,113,850. This represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Venker sold 683,818 shares of Roivant Sciences stock in a transaction 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 sale, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at approximately $29,448,016.65. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,228,958 shares of company stock worth $76,447,638. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Roivant Sciences by 83.0% during the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company’s stock worth $66,000 after buying an additional 2,945 shares during the last quarter. Penn Davis Mcfarland Inc. lifted its stake in Roivant Sciences by 3.5% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company’s stock worth $17,226,000 after purchasing an additional 58,206 shares during the last quarter. GF Fund Management CO. LTD. boosted its holdings in Roivant Sciences by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 18,641 shares of the company’s stock worth $188,000 after purchasing an additional 3,356 shares during the period. Bank of New York Mellon Corp increased its stake in Roivant Sciences by 16.3% during the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock valued at $40,362,000 after purchasing an additional 560,641 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Roivant Sciences by 10.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,478 shares of the company’s stock worth $1,034,000 after purchasing an additional 9,357 shares during the period. 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.