Roivant Sciences (NASDAQ:ROIV) Sets New 1-Year High – Here’s Why

Roivant Sciences Ltd. (NASDAQ:ROIVGet Free Report)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $37.19 and last traded at $36.0760, with a volume of 344863 shares traded. The stock had previously closed at $36.20.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ROIV shares. Citigroup boosted their target price on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Weiss Ratings cut shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a report on Thursday, May 21st. Guggenheim boosted their price objective on shares of Roivant Sciences from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.14.

View Our Latest Stock Report on Roivant Sciences

Roivant Sciences Stock Performance

The firm has a market capitalization of $26.17 billion, a P/E ratio of -68.39 and a beta of 1.12. The firm’s 50-day moving average is $33.84 and its 200 day moving average is $29.96.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, Director Melissa B. Epperly sold 17,750 shares of Roivant Sciences stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $34.38, for a total value of $610,245.00. Following the sale, the director owned 16,474 shares of the company’s stock, valued at $566,376.12. This trade represents a 51.86% 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, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $34.95, for a total value of $6,990,000.00. Following the completion of the sale, the chief executive officer owned 1,613,063 shares in the company, valued at approximately $56,376,551.85. This trade represents a 11.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,055,913 shares of company stock valued at $69,639,633 in the last 90 days. 8.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ROIV. Morgan Stanley raised its position in Roivant Sciences by 31.7% during the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock worth $1,266,402,000 after acquiring an additional 14,036,696 shares in the last quarter. Vanguard Group Inc. grew its holdings in Roivant Sciences by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company’s stock worth $912,681,000 after purchasing an additional 3,254,113 shares during the period. Rubric Capital Management LP grew its holdings in Roivant Sciences by 14.7% during the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock worth $229,574,000 after purchasing an additional 2,603,260 shares during the period. State Street Corp increased its position in Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company’s stock worth $222,847,000 after buying an additional 911,827 shares during the last quarter. Finally, UBS Group AG increased its position in Roivant Sciences by 570.0% during the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock worth $399,080,000 after buying an additional 15,645,836 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

About Roivant Sciences

(Get Free Report)

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.

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