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

Roivant Sciences Ltd. (NASDAQ:ROIV)’s share price reached a new 52-week high during 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.

Analysts Set New Price Targets

ROIV has been the topic of a number of research analyst reports. HC Wainwright upped their target price on Roivant Sciences from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen upgraded shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Guggenheim restated a “buy” rating and issued a $25.00 price objective on shares of Roivant Sciences in a report on Friday, November 14th. JPMorgan Chase & Co. upped 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. Finally, The Goldman Sachs Group lifted their target price on shares of Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.31.

Roivant Sciences Price Performance

The stock has a market cap of $15.37 billion, a PE ratio of -39.46 and a beta of 1.22. The business has a 50 day moving average price of $19.38 and a two-hundred day moving average price of $14.68.

Insider Activity

In related news, CEO Eric Venker sold 683,818 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.95, for a total value of $10,223,079.10. Following the sale, the chief executive officer directly owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. This trade represents a 25.77% 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, major shareholder Vivek Ramaswamy sold 1,027,670 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $20.33, for a total value of $20,892,531.10. Following the transaction, the insider owned 34,193,406 shares in the company, valued at approximately $695,151,943.98. This represents a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,907,812 shares of company stock valued at $125,271,540. Insiders own 10.80% of the company’s stock.

Institutional Trading of Roivant Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its holdings in Roivant Sciences by 226.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after purchasing an additional 1,148 shares in the last quarter. Allworth Financial LP increased its position in shares of Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after buying an additional 583 shares during the period. Bessemer Group Inc. raised its stake in Roivant Sciences by 41.5% in the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after buying an additional 543 shares in the last quarter. CWM LLC lifted its holdings in Roivant Sciences by 44.6% in the second 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 boosted its position in Roivant Sciences by 75.8% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 4,405 shares of the company’s stock valued at $67,000 after acquiring 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.