Roivant Sciences (NASDAQ:ROIV) Reaches New 52-Week High – Still a Buy?

Roivant Sciences Ltd. (NASDAQ:ROIV)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.80 and last traded at $32.07, with a volume of 4263191 shares. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

A number of research firms recently commented on ROIV. Weiss Ratings downgraded Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Guggenheim boosted their target price on Roivant Sciences from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Roivant Sciences in a research note on Tuesday, March 3rd. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein started coverage on shares of Roivant Sciences in a report on Friday, March 20th. They set an “outperform” rating and a $35.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.59.

Roivant Sciences Stock Up 1.9%

The company has a fifty day simple moving average of $29.29 and a two-hundred day simple moving average of $26.46. The stock has a market capitalization of $22.91 billion, a P/E ratio of -53.08 and a beta of 1.13.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.57. The company had revenue of $2.52 million during the quarter, compared to the consensus estimate of $3.41 million. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.During the same period in the prior year, the company earned ($0.29) earnings per share. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $30.27, for a total value of $6,054,000.00. Following the completion of the transaction, the chief executive officer owned 1,613,063 shares in the company, valued at $48,827,417.01. This represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jennifer Humes sold 13,538 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total transaction of $384,073.06. Following the sale, the chief accounting officer directly owned 84,191 shares of the company’s stock, valued at $2,388,498.67. This represents a 13.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 703,312 shares of company stock valued at $20,805,883. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROIV. UBS Group AG lifted its holdings in shares of Roivant Sciences by 570.0% in the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock valued at $399,080,000 after purchasing an additional 15,645,836 shares in the last quarter. Morgan Stanley raised its position in Roivant Sciences by 31.7% in the 4th quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock valued at $1,266,402,000 after buying an additional 14,036,696 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Roivant Sciences by 365.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company’s stock valued at $238,323,000 after buying an additional 8,621,567 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Roivant Sciences by 11,507.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,937,112 shares of the company’s stock valued at $150,535,000 after buying an additional 6,877,348 shares during the last quarter. Finally, Norges Bank bought a new stake in Roivant Sciences in the 4th quarter valued at approximately $112,750,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.