Roivant Sciences (NASDAQ:ROIV) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Roivant Sciences (NASDAQ:ROIV - Free Report) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Roivant Sciences currently has a consensus rating of "Buy" and a consensus price target of $17.93.

Roivant Sciences Stock Up 0.8 %

Shares of Roivant Sciences stock traded up $0.09 during trading on Thursday, reaching $10.79. The company's stock had a trading volume of 3,004,002 shares, compared to its average volume of 4,100,398. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 1.91 and a beta of 1.25. Roivant Sciences has a 1-year low of $9.69 and a 1-year high of $13.06. The company has a 50-day simple moving average of $11.66 and a two-hundred day simple moving average of $11.60.

Insider Activity at Roivant Sciences

In related news, CIO Mayukh Sukhatme sold 185,946 shares of Roivant Sciences stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $12.00, for a total value of $2,231,352.00. Following the sale, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,038,564. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total value of $1,132,000.00. Following the completion of the sale, the chief operating officer now owns 606,525 shares in the company, valued at approximately $6,865,863. The trade was a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,942,629 shares of company stock worth $23,034,486 in the last 90 days. Corporate insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors have recently bought and sold shares of ROIV. Dimensional Fund Advisors LP acquired a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $2,671,000. Sei Investments Co. boosted its holdings in shares of Roivant Sciences by 64.3% during the 2nd quarter. Sei Investments Co. now owns 22,151 shares of the company's stock worth $234,000 after purchasing an additional 8,667 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Roivant Sciences by 14.7% in the second quarter. Squarepoint Ops LLC now owns 47,579 shares of the company's stock valued at $503,000 after acquiring an additional 6,091 shares during the last quarter. Quarry LP acquired a new position in Roivant Sciences in the second quarter valued at approximately $53,000. Finally, Cetera Investment Advisers lifted its holdings in Roivant Sciences by 39.4% in the second quarter. Cetera Investment Advisers now owns 100,288 shares of the company's stock valued at $1,060,000 after acquiring an additional 28,324 shares during the last quarter. 64.76% of the stock is currently 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.