Roivant Sciences (NASDAQ:ROIV) Sets New 52-Week High – Here’s Why

Roivant Sciences Ltd. (NASDAQ:ROIV) hit a new 52-week high on Tuesday . The company traded as high as $32.80 and last traded at $32.07, with a volume of 4263191 shares changing hands. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ROIV shares. Citigroup lifted their target price on shares of Roivant Sciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Piper Sandler restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Leerink Partners set a $42.00 price objective on Roivant Sciences in a research report on Thursday, May 21st. Weiss Ratings cut Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Roivant Sciences has an average rating of “Moderate Buy” and an average target price of $33.59.

Roivant Sciences Trading Up 0.3%

The company has a market capitalization of $24.55 billion, a PE ratio of -57.27 and a beta of 1.13. The business’s fifty day moving average is $29.47 and its two-hundred day moving average is $26.63.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.57. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.The business had revenue of $2.52 million for the quarter, compared to analysts’ expectations of $3.41 million. During the same period in the prior year, the firm posted ($0.29) EPS. As a group, equities research analysts anticipate that Roivant Sciences Ltd. will post -1.83 EPS for the current year.

Insider Activity

In related news, CEO Eric Venker sold 200,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total transaction of $6,054,000.00. Following the sale, the chief executive officer directly owned 1,613,063 shares of the company’s stock, valued at $48,827,417.01. This trade represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew Gline sold 289,774 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $29.16, for a total value of $8,449,809.84. Following the sale, the chief executive officer directly owned 16,736,116 shares in the company, valued at $488,025,142.56. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 703,312 shares of company stock valued at $20,805,883 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

A number of large investors have recently made changes to their positions in ROIV. SBI Securities Co. Ltd. lifted its position in Roivant Sciences by 1,740.3% during the fourth 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 during the period. Allworth Financial LP lifted its holdings 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 buying an additional 583 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Roivant Sciences in the 4th quarter worth $47,000. Parallel Advisors LLC boosted its stake in shares of Roivant Sciences by 33.7% in the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock worth $57,000 after buying an additional 520 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Roivant Sciences by 7,614.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company’s stock worth $59,000 after acquiring an additional 2,665 shares during the period. 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.