Roivant Sciences (NASDAQ:ROIV) Stock Price Up 2.8%

Roivant Sciences Ltd. (NASDAQ:ROIV – Get Rating) shares rose 2.8% during trading on Friday . The company 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Roivant Sciences from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. The Goldman Sachs Group lifted their price objective on Roivant Sciences from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, January 19th. Citigroup lifted their price objective on Roivant Sciences from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, January 5th. SVB Leerink lifted their price objective on Roivant Sciences from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Roivant Sciences in a research note on Thursday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Roivant Sciences has a consensus rating of “Buy” and a consensus price target of $12.50.

Roivant Sciences Trading Up 2.4 %

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

Insider Activity at Roivant Sciences

In related news, COO Eric Venker sold 95,484 shares of Roivant Sciences stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $7.32, for a total value of $698,942.88. Following the completion of the transaction, the chief operating officer now owns 753,466 shares in the company, valued at approximately $5,515,371.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Vivek Ramaswamy sold 4,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $7.95, for a total transaction of $31,800,000.00. Following the transaction, the director now directly owns 54,409,211 shares in the company, valued at approximately $432,553,227.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Eric Venker sold 95,484 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $7.32, for a total value of $698,942.88. Following the completion of the transaction, the chief operating officer now owns 753,466 shares in the company, valued at $5,515,371.12. The disclosure for this sale can be found here. Insiders sold a total of 4,121,433 shares of company stock worth $32,707,169 in the last 90 days. Corporate insiders own 13.00% of the company’s stock.

Institutional Trading of Roivant Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROIV. Bank of New York Mellon Corp raised its position in Roivant Sciences by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 47,274 shares of the company’s stock valued at $233,000 after purchasing an additional 4,335 shares during the period. Citigroup Inc. increased its position in shares of Roivant Sciences by 1,803.6% during the first quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock worth $28,000 after acquiring an additional 5,447 shares during the period. BlackRock Inc. increased its position in shares of Roivant Sciences by 3.0% during 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 during the period. Vanguard Group Inc. increased its position in shares of Roivant Sciences by 13.8% during the first quarter. Vanguard Group Inc. now owns 1,319,499 shares of the company’s stock worth $6,519,000 after acquiring an additional 159,787 shares during the period. Finally, American International Group Inc. purchased a new stake in shares of Roivant Sciences during the first quarter worth $8,965,000. Hedge funds and other institutional investors own 52.66% of the company’s stock.

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.