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

Roivant Sciences Ltd. (NASDAQ:ROIV) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.16 and last traded at $30.2570, with a volume of 1782692 shares trading hands. The stock had previously closed at $29.53.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROIV. TD Cowen reiterated a “buy” rating on shares of Roivant Sciences in a research report on Wednesday, March 4th. Leerink Partners raised their price objective on Roivant Sciences from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. The Goldman Sachs Group lifted their price objective on shares of Roivant Sciences from $24.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Weiss Ratings lowered shares of Roivant Sciences from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. Finally, HC Wainwright raised their price target on shares of Roivant Sciences from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given 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 $28.81.

Roivant Sciences Price Performance

The firm’s fifty day moving average price is $24.72 and its 200-day moving average price is $20.28. The company has a market cap of $21.45 billion, a price-to-earnings ratio of -25.64 and a beta of 1.17.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 1,975,858 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $21.96, for a total value of $43,389,841.68. Following the sale, the insider owned 36,350,621 shares in the company, valued at approximately $798,259,637.16. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Gline sold 1,740,000 shares of Roivant Sciences stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $21.68, for a total value of $37,723,200.00. Following the sale, the chief executive officer directly owned 17,290,820 shares in the company, valued at approximately $374,864,977.60. This trade represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,118,014 shares of company stock worth $311,557,023 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ROIV. Pacer Advisors Inc. grew its stake in shares of Roivant Sciences by 24.0% in the fourth quarter. Pacer Advisors Inc. now owns 70,259 shares of the company’s stock worth $1,525,000 after purchasing an additional 13,609 shares in the last quarter. Dorsey Wright & Associates bought a new stake in shares of Roivant Sciences during the fourth quarter valued at about $8,162,000. Invesco Ltd. raised its stake in shares of Roivant Sciences by 28.9% during the fourth quarter. Invesco Ltd. now owns 2,281,487 shares of the company’s stock valued at $49,508,000 after purchasing an additional 512,129 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Roivant Sciences in the fourth quarter worth about $227,000. Finally, Empowered Funds LLC bought a new position in Roivant Sciences in the 4th quarter valued at about $396,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

About Roivant Sciences

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.