Roivant Sciences (NASDAQ:ROIV) Sets New 12-Month High – Here’s Why

Roivant Sciences Ltd. (NASDAQ:ROIV) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.08 and last traded at $27.9030, with a volume of 683207 shares traded. The stock had previously closed at $27.76.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ROIV shares. Guggenheim increased their target price on shares of Roivant Sciences from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Citigroup increased their price objective on shares of Roivant Sciences from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Jefferies Financial Group reissued a “buy” rating and issued a $30.00 target price on shares of Roivant Sciences in a report on Monday, February 9th. The Goldman Sachs Group upped their target price on Roivant Sciences from $24.00 to $33.00 and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Weiss Ratings cut Roivant Sciences from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.69.

Roivant Sciences Stock Performance

The stock has a market capitalization of $19.78 billion, a price-to-earnings ratio of -23.59 and a beta of 1.22. The business’s 50 day simple moving average is $23.44 and its 200-day simple moving average is $19.07.

Insiders Place Their Bets

In other news, insider Mayukh Sukhatme sold 1,018,995 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $21.71, for a total transaction of $22,122,381.45. Following the transaction, the insider directly owned 20,267,429 shares of the company’s stock, valued at approximately $440,005,883.59. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Vivek Ramaswamy sold 1,975,858 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $21.96, for a total transaction of $43,389,841.68. Following the completion of the transaction, the insider owned 36,350,621 shares of the company’s stock, valued at $798,259,637.16. This represents a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,318,014 shares of company stock worth $315,727,023. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ROIV. Jones Financial Companies Lllp increased its stake in shares of Roivant Sciences by 226.0% during 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. SBI Securities Co. Ltd. boosted its stake in Roivant Sciences by 1,740.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock valued at $27,000 after purchasing an additional 1,166 shares in the last quarter. Allworth Financial LP increased its position 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 valued at $27,000 after purchasing an additional 583 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Roivant Sciences by 41.5% in the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after buying an additional 543 shares during the period. Finally, CWM LLC boosted its stake in Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after buying an additional 920 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Company Profile

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.