Roivant Sciences (NASDAQ:ROIV) Reaches New 52-Week High – Should You Buy?

Roivant Sciences Ltd. (NASDAQ:ROIV) shares hit a new 52-week high on Friday . The stock traded as high as $21.40 and last traded at $21.1550, with a volume of 1946 shares. The stock had previously closed at $21.18.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ROIV shares. Wall Street Zen raised Roivant Sciences from a “strong sell” rating to a “hold” rating in a report on Sunday, November 16th. HC Wainwright lifted their target price on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 18th. The Goldman Sachs Group upped their price target on Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Bank of America raised their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Roivant Sciences in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Roivant Sciences presently has an average rating of “Moderate Buy” and an average price target of $22.56.

Roivant Sciences Stock Performance

The stock has a market cap of $14.58 billion, a PE ratio of -37.45 and a beta of 1.22. The company’s 50-day moving average price is $18.84 and its two-hundred day moving average price is $14.35.

Insiders Place Their Bets

In other news, major shareholder Vivek Ramaswamy sold 539,650 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $20.51, for a total value of $11,068,221.50. Following the completion of the sale, the insider owned 33,653,756 shares of the company’s stock, valued at approximately $690,238,535.56. This represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $20.22, for a total transaction of $4,044,000.00. Following the sale, the chief executive officer owned 1,504,959 shares of the company’s stock, valued at approximately $30,430,270.98. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,707,812 shares of company stock valued at $121,101,540 over the last 90 days. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in shares of 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 during the period. Allworth Financial LP raised its stake in Roivant Sciences by 48.1% in the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after buying an additional 583 shares in the last quarter. Bessemer Group Inc. lifted its holdings 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 during the period. CWM LLC boosted its position in Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after acquiring an additional 920 shares in the last quarter. 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. Institutional investors own 64.76% of the company’s stock.

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.