Roivant Sciences (NASDAQ:ROIV) Reaches New 52-Week High – What’s Next?

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) reached a new 52-week high on Friday . The stock traded as high as $21.40 and last traded at $21.1550, with a volume of 1946 shares. The stock had previously closed at $21.18.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Bank of America lifted their price target 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. Wall Street Zen raised shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Finally, The Goldman Sachs Group boosted their target price on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Roivant Sciences has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Roivant Sciences Trading Down 0.5%

The business’s 50 day simple moving average is $18.73 and its 200 day simple moving average is $14.25. The firm has a market capitalization of $14.65 billion, a PE ratio of -37.55 and a beta of 1.22.

Insider Buying and Selling

In other news, major shareholder Vivek Ramaswamy sold 1,027,670 shares of Roivant Sciences stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $20.33, for a total value of $20,892,531.10. Following the completion of the transaction, the insider owned 34,193,406 shares in the company, valued at approximately $695,151,943.98. The trade was a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Allen Gold sold 1,300,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $20.23, for a total value of $26,299,000.00. Following the transaction, the director directly owned 18,047,727 shares in the company, valued at approximately $365,105,517.21. This represents a 6.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,707,812 shares of company stock worth $121,101,540. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of 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 during the period. Allworth Financial LP boosted its stake in shares of Roivant Sciences by 48.1% during the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $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 during the last quarter. CWM LLC raised its position in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after purchasing an additional 920 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Roivant Sciences by 94.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock worth $46,000 after purchasing an additional 2,233 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Company Profile

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.