Roivant Sciences (NASDAQ:ROIV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Roivant Sciences (NASDAQ:ROIV) from a strong sell rating to a hold rating in a report issued on Sunday.

Several other research firms have also recently weighed in on ROIV. Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Bank of America increased their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, September 18th. Guggenheim reaffirmed a “buy” rating and issued a $25.00 target price on shares of Roivant Sciences in a report on Friday. Jefferies Financial Group boosted their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. raised their price target on Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.56.

Roivant Sciences Price Performance

Shares of ROIV opened at $20.52 on Friday. Roivant Sciences has a 1 year low of $8.73 and a 1 year high of $21.35. The company has a 50 day simple moving average of $17.29 and a two-hundred day simple moving average of $13.49. The firm has a market cap of $14.01 billion, a P/E ratio of -36.64 and a beta of 1.23.

Insider Buying and Selling

In other news, major shareholder Vivek Ramaswamy sold 539,650 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $20.51, for a total value of $11,068,221.50. Following the completion of the sale, the insider directly owned 33,653,756 shares of the company’s stock, valued at $690,238,535.56. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $20.22, for a total value of $4,044,000.00. Following the completion of the transaction, the chief executive officer owned 1,504,959 shares of the company’s stock, valued at approximately $30,430,270.98. This trade represents a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 7,183,561 shares of company stock worth $117,258,750. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ROIV. Amundi lifted its stake in Roivant Sciences by 18.1% in the first quarter. Amundi now owns 398,729 shares of the company’s stock worth $3,991,000 after purchasing an additional 61,214 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Roivant Sciences during the first quarter valued at approximately $303,000. IFG Advisory LLC purchased a new stake in shares of Roivant Sciences in the second quarter worth approximately $255,000. Peak Financial Advisors LLC purchased a new stake in shares of Roivant Sciences in the second quarter worth approximately $472,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Roivant Sciences during the 2nd quarter worth approximately $3,064,000. 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.