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
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
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.
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