Roivant Sciences Ltd. (NASDAQ:ROIV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.5625.

ROIV has been the topic of several research reports. Citigroup increased their price target on shares of Roivant Sciences from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Jefferies Financial Group upped their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. The Goldman Sachs Group raised their price target on shares of Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. HC Wainwright boosted their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Finally, Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th.

Roivant Sciences Trading Down 1.3%

ROIV opened at $20.29 on Friday. The stock’s 50-day moving average price is $17.00 and its 200 day moving average price is $13.35. Roivant Sciences has a 12-month low of $8.73 and a 12-month high of $21.35. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of -36.23 and a beta of 1.23.

Insiders Place Their Bets

In other news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $20.22, for a total value of $4,044,000.00. Following the completion of the transaction, the chief executive officer owned 1,504,959 shares in the company, valued at approximately $30,430,270.98. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 5,428,958 shares of company stock worth $80,491,638. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Roivant Sciences

Hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Roivant Sciences by 226.0% in the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after acquiring an additional 1,148 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Roivant Sciences by 41.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after purchasing an additional 543 shares in the last quarter. CWM LLC raised its holdings in shares of Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after purchasing an additional 920 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of Roivant Sciences by 75.8% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 4,405 shares of the company’s stock worth $67,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock worth $46,000 after purchasing an additional 2,233 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.