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

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.93.

ROIV has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. Finally, Bank of America increased their price target on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $11.84 on Monday. Roivant Sciences has a one year low of $9.69 and a one year high of $13.06. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 2.10 and a beta of 1.25. The company has a 50-day simple moving average of $11.88 and a 200-day simple moving average of $11.44.

Insider Activity at Roivant Sciences

In related news, CAO Rakhi Kumar sold 250,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the completion of the sale, the chief accounting officer now owns 209,322 shares in the company, valued at $2,488,838.58. This trade represents a 54.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Gline sold 1,983,257 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $23,382,600.03. Following the sale, the chief executive officer now owns 17,870,543 shares in the company, valued at approximately $210,693,701.97. The trade was a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,677,309 shares of company stock worth $43,283,184 over the last three months. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama increased its position in Roivant Sciences by 26.9% during the 3rd quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock worth $6,116,000 after purchasing an additional 112,286 shares in the last quarter. Tyro Capital Management LLC boosted its stake in shares of Roivant Sciences by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 1,754,976 shares of the company’s stock worth $20,252,000 after purchasing an additional 10,649 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its holdings in shares of Roivant Sciences by 19.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 201,612 shares of the company’s stock worth $2,313,000 after buying an additional 33,467 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Roivant Sciences during the third quarter worth about $207,000. Finally, Geode Capital Management LLC raised its position in shares of Roivant Sciences by 23.2% in the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after buying an additional 1,460,205 shares during the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

About Roivant Sciences

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.