Roivant Sciences (NASDAQ:ROIV) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Roivant Sciences (NASDAQ:ROIV) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Roivant Sciences currently has an average rating of “Buy” and a consensus target price of $17.93.

Roivant Sciences Trading Down 2.1 %

Shares of ROIV opened at $11.13 on Thursday. The firm’s fifty day simple moving average is $11.69 and its 200-day simple moving average is $11.60. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 1.97 and a beta of 1.27. Roivant Sciences has a twelve month low of $9.69 and a twelve month high of $13.06.

Insider Activity

In other news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the business’s stock in a transaction on Monday, January 13th. The stock was bought at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the transaction, the director now owns 96,650,341 shares in the company, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the completion of the sale, the chief operating officer now directly owns 732,294 shares in the company, valued at approximately $8,260,276.32. The trade was a 12.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,942,629 shares of company stock valued at $23,034,486 in the last ninety days. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in shares of Roivant Sciences by 15.2% in the 4th quarter. New York State Common Retirement Fund now owns 219,793 shares of the company’s stock valued at $2,600,000 after buying an additional 29,000 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Roivant Sciences during the 4th quarter worth $143,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Roivant Sciences by 10.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 185,602 shares of the company’s stock valued at $2,196,000 after purchasing an additional 17,217 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Roivant Sciences by 28.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 88,970 shares of the company’s stock valued at $1,053,000 after purchasing an additional 19,670 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in Roivant Sciences by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 254,220 shares of the company’s stock worth $3,007,000 after buying an additional 4,959 shares in the last quarter. Institutional investors and hedge funds 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.