Roivant Sciences (NASDAQ:ROIV) Given New $20.00 Price Target at HC Wainwright

Roivant Sciences (NASDAQ:ROIV) had its target price raised by HC Wainwright from $18.00 to $20.00 in a research report sent to investors on Thursday, MarketBeat reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on ROIV. Citigroup started coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $16.00 target price for the company. The Goldman Sachs Group upgraded shares of Roivant Sciences to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Roivant Sciences presently has an average rating of “Moderate Buy” and an average target price of $19.94.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $15.09 on Thursday. The company has a market cap of $10.30 billion, a PE ratio of -21.56 and a beta of 1.15. Roivant Sciences has a 52 week low of $8.73 and a 52 week high of $16.05. The firm has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $11.25.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the completion of the transaction, the insider directly owned 36,089,108 shares of the company’s stock, valued at $451,113,850. This trade represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Gline purchased 3,315 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were purchased at an average cost of $15.07 per share, with a total value of $49,957.05. Following the completion of the acquisition, the chief executive officer directly owned 17,287,081 shares in the company, valued at $260,516,310.67. The trade was a 0.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 1,975,749 shares of company stock valued at $24,780,210 in the last ninety days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new position in Roivant Sciences during the 2nd quarter valued at about $1,145,000. Osaic Holdings Inc. lifted its holdings in Roivant Sciences by 204.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,783 shares of the company’s stock valued at $65,000 after purchasing an additional 3,882 shares during the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Roivant Sciences in the second quarter worth about $117,000. State of Wyoming bought a new position in shares of Roivant Sciences in the second quarter worth about $159,000. Finally, Headlands Technologies LLC raised its stake in shares of Roivant Sciences by 11,882.5% in the second quarter. Headlands Technologies LLC now owns 162,003 shares of the company’s stock worth $1,826,000 after acquiring an additional 160,651 shares during the last quarter. 64.76% of the stock is owned by 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.