Roivant Sciences (NASDAQ:ROIV) Trading 2.8% Higher

Roivant Sciences Ltd. (NASDAQ:ROIV – Get Rating)’s stock price rose 2.8% on Friday . The stock traded as high as $8.76 and last traded at $8.74. Approximately 269,482 shares traded hands during trading, a decline of 89% from the average daily volume of 2,447,622 shares. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

Several analysts recently commented on ROIV shares. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Roivant Sciences in a report on Thursday. SVB Leerink increased their price target on Roivant Sciences from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, December 19th. The Goldman Sachs Group raised their target price on Roivant Sciences from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, January 19th. JPMorgan Chase & Co. raised their target price on Roivant Sciences from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, February 13th. Finally, Citigroup raised their price target on Roivant Sciences from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, January 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.50.

Roivant Sciences Stock Up 2.4 %

The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $6.31. The firm has a market capitalization of $6.60 billion, a PE ratio of -4.89 and a beta of 1.26.

Insiders Place Their Bets

In other Roivant Sciences news, COO Eric Venker sold 95,484 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $7.32, for a total value of $698,942.88. Following the transaction, the chief operating officer now directly owns 753,466 shares of the company’s stock, valued at approximately $5,515,371.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roivant Sciences news, COO Eric Venker sold 95,484 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $7.32, for a total value of $698,942.88. Following the transaction, the chief operating officer now directly owns 753,466 shares of the company’s stock, valued at approximately $5,515,371.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vivek Ramaswamy sold 4,000,000 shares of Roivant Sciences stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $7.95, for a total value of $31,800,000.00. Following the completion of the sale, the director now owns 54,409,211 shares in the company, valued at $432,553,227.45. The disclosure for this sale can be found here. Insiders have sold 4,121,433 shares of company stock valued at $32,707,169 in the last ninety days. Company insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds have recently made changes to their positions in the company. Patient Square Capital LP bought a new stake in shares of Roivant Sciences during the fourth quarter valued at approximately $54,539,000. Two Seas Capital LP boosted its holdings in Roivant Sciences by 71.6% in the third quarter. Two Seas Capital LP now owns 5,869,690 shares of the company’s stock worth $18,900,000 after acquiring an additional 2,449,854 shares in the last quarter. BlackRock Inc. boosted its holdings in Roivant Sciences by 3.0% in the first quarter. BlackRock Inc. now owns 4,044,419 shares of the company’s stock worth $19,980,000 after acquiring an additional 117,329 shares in the last quarter. American International Group Inc. bought a new stake in Roivant Sciences in the first quarter worth $8,965,000. Finally, Balyasny Asset Management LLC boosted its holdings in Roivant Sciences by 456.2% in the third quarter. Balyasny Asset Management LLC now owns 1,753,210 shares of the company’s stock worth $5,645,000 after acquiring an additional 1,437,970 shares in the last quarter. 52.66% of the stock is currently owned by institutional investors.

About Roivant Sciences

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Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops medicines. The company develops product candidates for the treatment of various therapeutics, including solid tumors, sickle cell diseases, hypophosphatasia, oncologic malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, warm autoimmune hemolytic anemia, thyroid eye diseases, sarcoidosis, and staph aureus bacteremia.