Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) PT at $28.69

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.6875.

ROIV has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 target price on shares of Roivant Sciences in a research note on Monday, February 9th. Weiss Ratings cut Roivant Sciences from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 9th. Wall Street Zen raised Roivant Sciences from a “strong sell” rating to a “hold” rating in a research note on Sunday, November 16th. Leerink Partners increased their target price on Roivant Sciences from $29.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a report on Saturday, February 7th.

Roivant Sciences Stock Up 1.6%

Shares of ROIV stock opened at $28.94 on Tuesday. The company has a market capitalization of $20.71 billion, a P/E ratio of -24.74 and a beta of 1.22. Roivant Sciences has a 12-month low of $8.73 and a 12-month high of $29.20. The firm has a 50-day moving average price of $23.93 and a 200 day moving average price of $19.50.

Insider Activity at Roivant Sciences

In other news, insider Frank Torti sold 587,390 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $27.51, for a total transaction of $16,159,098.90. Following the sale, the insider directly owned 13,736,547 shares of the company’s stock, valued at $377,892,407.97. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Allen Gold sold 375,784 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $26.50, for a total transaction of $9,958,276.00. Following the completion of the transaction, the director owned 15,127,329 shares of the company’s stock, valued at $400,874,218.50. This trade represents a 2.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 13,318,014 shares of company stock worth $315,727,023. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ROIV. Pacer Advisors Inc. increased its stake in shares of Roivant Sciences by 24.0% in the 4th quarter. Pacer Advisors Inc. now owns 70,259 shares of the company’s stock valued at $1,525,000 after buying an additional 13,609 shares during the period. Dorsey Wright & Associates bought a new position in Roivant Sciences in the fourth quarter valued at about $8,162,000. Invesco Ltd. increased its position in Roivant Sciences by 28.9% in the fourth quarter. Invesco Ltd. now owns 2,281,487 shares of the company’s stock worth $49,508,000 after purchasing an additional 512,129 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Roivant Sciences in the fourth quarter worth about $227,000. Finally, Empowered Funds LLC bought a new stake in Roivant Sciences during the 4th quarter worth about $396,000. 64.76% of the stock is currently owned by institutional investors.

About Roivant Sciences

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.