Roivant Sciences (NASDAQ:ROIV) Sets New 52-Week High – What’s Next?

Roivant Sciences Ltd. (NASDAQ:ROIV) hit a new 52-week high on Monday . The stock traded as high as $34.68 and last traded at $34.46, with a volume of 1666904 shares traded. The stock had previously closed at $34.07.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ROIV shares. Sanford C. Bernstein initiated coverage on Roivant Sciences in a research report on Friday, March 20th. They set an “outperform” rating and a $35.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $34.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. TD Cowen boosted their price target on shares of Roivant Sciences from $38.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group restated a “buy” rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. Finally, Guggenheim raised their price objective on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $33.59.

Roivant Sciences Trading Up 0.9%

The business has a fifty day moving average price of $29.66 and a two-hundred day moving average price of $26.81. The company has a market cap of $24.72 billion, a price-to-earnings ratio of -57.46 and a beta of 1.13.

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

Insider Buying and Selling at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $53,489,169.08. This trade represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $384,073.06. Following the sale, the chief accounting officer owned 84,191 shares of the company’s stock, valued at approximately $2,388,498.67. This represents a 13.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 903,312 shares of company stock valued at $27,437,883 in the last quarter. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Roivant Sciences by 37.1% during the 1st quarter. Pacer Advisors Inc. now owns 96,303 shares of the company’s stock worth $2,668,000 after purchasing an additional 26,044 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Roivant Sciences by 1,468.5% in the 1st quarter. Empowered Funds LLC now owns 285,915 shares of the company’s stock valued at $7,920,000 after buying an additional 267,686 shares in the last quarter. Seven Fleet Capital Management LP acquired a new position in Roivant Sciences in the first quarter worth approximately $3,550,000. Parallel Advisors LLC increased its holdings in Roivant Sciences by 33.7% in the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock worth $57,000 after buying an additional 520 shares during the last quarter. Finally, Perceptive Advisors LLC raised its position in Roivant Sciences by 3.8% during the first quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company’s stock valued at $229,507,000 after acquiring an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.