Roivant Sciences (NASDAQ:ROIV) Reaches New 12-Month High – Still a Buy?

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.96 and last traded at $21.5690, with a volume of 2700461 shares. The stock had previously closed at $20.24.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ROIV. The Goldman Sachs Group lifted their price objective on Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. HC Wainwright raised their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Citigroup upped their price target on shares of Roivant Sciences from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Leerink Partners reiterated an “outperform” rating and issued a $29.00 price target on shares of Roivant Sciences in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to 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

The business’s 50-day simple moving average is $19.15 and its two-hundred day simple moving average is $14.55. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of -38.71 and a beta of 1.22.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 1,027,670 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $20.33, for a total transaction of $20,892,531.10. Following the completion of the sale, the insider directly owned 34,193,406 shares of the company’s stock, valued at approximately $695,151,943.98. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Venker sold 683,818 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.95, for a total value of $10,223,079.10. Following the completion of the transaction, the chief executive officer directly owned 1,969,767 shares in the company, valued at $29,448,016.65. This trade represents a 25.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,707,812 shares of company stock worth $121,101,540. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of ROIV. Jones Financial Companies Lllp grew its position in Roivant Sciences by 226.0% in the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock valued at $25,000 after acquiring an additional 1,148 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Roivant Sciences by 48.1% in the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after purchasing an additional 583 shares during the period. Bessemer Group Inc. grew its holdings in Roivant Sciences by 41.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after purchasing an additional 543 shares in the last quarter. CWM LLC increased its stake in Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after buying an additional 920 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Roivant Sciences by 75.8% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 4,405 shares of the company’s stock worth $67,000 after buying an additional 1,900 shares in the last quarter. Hedge funds and other 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.