Roivant Sciences Ltd. (NASDAQ:ROIV – Get Free Report)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $36.64 and traded as high as $37.13. Roivant Sciences shares last traded at $37.11, with a volume of 5,773,173 shares.
Analysts Set New Price Targets
A number of equities research analysts have commented on ROIV shares. Jefferies Financial Group raised their target price on shares of Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. Bank of America reiterated a “neutral” rating on shares of Roivant Sciences in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Roivant Sciences in a research note on Wednesday, August 19th. Finally, TD Cowen restated a “buy” rating on shares of Roivant Sciences in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.55.
View Our Latest Report on Roivant Sciences
Roivant Sciences Stock Up 1.6%
The stock has a fifty day simple moving average of $36.64 and a 200 day simple moving average of $31.31. The firm has a market capitalization of $26.81 billion, a P/E ratio of -70.02 and a beta of 1.10.
Roivant Sciences (NASDAQ:ROIV – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. The firm had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.06 million. Research analysts anticipate that Roivant Sciences Ltd. will post -2.00 earnings per share for the current fiscal year.
Insider Activity at Roivant Sciences
In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,399,154 shares in the company, valued at $49,124,296.94. This represents a 12.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 144,756 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.48, for a total value of $5,280,698.88. Following the completion of the transaction, the insider owned 18,630,739 shares of the company’s stock, valued at $679,649,358.72. The trade was a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,622,688 shares of company stock valued at $58,858,636. 8.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On Roivant Sciences
Several institutional investors and hedge funds have recently modified their holdings of ROIV. Wellington Management Group LLP boosted its stake in shares of Roivant Sciences by 179.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company’s stock worth $95,124,000 after purchasing an additional 1,724,588 shares during the period. Maverick Capital Ltd. bought a new position in Roivant Sciences during the 1st quarter valued at about $45,066,000. Assenagon Asset Management S.A. raised its position in Roivant Sciences by 18.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock worth $295,965,000 after purchasing an additional 1,286,464 shares during the period. Affinity Asset Advisors LLC raised its position in Roivant Sciences by 64.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 2,800,000 shares of the company’s stock worth $77,560,000 after purchasing an additional 1,100,000 shares during the period. Finally, California Public Employees Retirement System purchased a new stake in Roivant Sciences in the 1st quarter worth about $19,154,000. Institutional investors own 64.76% of the company’s stock.
Roivant Sciences Company Profile
Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.
Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.
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