Roivant Sciences Ltd. (NASDAQ:ROIV) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.93.

A number of research firms have commented on ROIV. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th. Finally, Bank of America increased their target price on Roivant Sciences from $12.00 to $12.50 and gave the company a "neutral" rating in a report on Wednesday, September 11th.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the completion of the transaction, the chief operating officer now owns 617,470 shares of the company's stock, valued at $7,193,525.50. This represents a 13.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company's stock, valued at $2,488,838.58. This represents a 54.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,677,309 shares of company stock valued at $43,283,184 over the last three months. Corporate insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of ROIV. TOMS Capital Investment Management LP bought a new stake in Roivant Sciences in the 3rd quarter valued at $46,333,000. Rubric Capital Management LP grew its position in shares of Roivant Sciences by 15.0% during the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company's stock valued at $243,110,000 after purchasing an additional 3,000,000 shares in the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Roivant Sciences in the second quarter worth about $31,182,000. FMR LLC lifted its position in shares of Roivant Sciences by 5.6% in the third quarter. FMR LLC now owns 49,145,056 shares of the company's stock worth $567,134,000 after buying an additional 2,593,910 shares in the last quarter. Finally, Geode Capital Management LLC lifted 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 worth $89,400,000 after buying an additional 1,460,205 shares in the last quarter. Institutional investors own 64.76% of the company's stock.

Roivant Sciences Stock Down 1.1 %

ROIV traded down $0.14 during midday trading on Monday, hitting $12.22. 2,923,012 shares of the company traded hands, compared to its average volume of 5,790,581. The company's 50-day moving average is $11.82 and its 200 day moving average is $11.41. Roivant Sciences has a 52 week low of $9.69 and a 52 week high of $13.06. The firm has a market capitalization of $8.90 billion, a PE ratio of 2.19 and a beta of 1.25.

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.