Roivant Sciences (NASDAQ:ROIV) Reaches New 1-Year High – Here’s What Happened

Roivant Sciences Ltd. (NASDAQ:ROIV) shares reached a new 52-week high on Tuesday . The stock traded as high as $35.95 and last traded at $35.5250, with a volume of 654 shares traded. The stock had previously closed at $35.39.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ROIV. 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 report on Tuesday, May 26th. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Citigroup lifted their target price on Roivant Sciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Weiss Ratings cut Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Finally, TD Cowen upped their target price on shares of Roivant Sciences from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.59.

Roivant Sciences Stock Performance

The firm has a market capitalization of $25.33 billion, a P/E ratio of -58.63 and a beta of 1.11. The firm’s 50-day moving average is $30.38 and its 200 day moving average is $27.39.

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

Insider Activity at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction dated 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 transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Humes sold 13,538 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $28.37, for a total value of $384,073.06. Following the completion of the sale, the chief accounting officer directly owned 84,191 shares of the company’s stock, valued at approximately $2,388,498.67. The trade was a 13.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,359,225 shares of company stock worth $77,401,516 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Roivant Sciences

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in shares of Roivant Sciences by 570.0% during the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock worth $399,080,000 after buying an additional 15,645,836 shares in the last quarter. Morgan Stanley grew its position in shares of Roivant Sciences by 31.7% during the 4th quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock worth $1,266,402,000 after purchasing an additional 14,036,696 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Roivant Sciences by 365.2% in the fourth 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 in the last quarter. Assenagon Asset Management S.A. grew its position in Roivant Sciences by 11,507.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,937,112 shares of the company’s stock worth $150,535,000 after buying an additional 6,877,348 shares in the last quarter. Finally, Norges Bank bought a new stake in Roivant Sciences during the fourth quarter worth about $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.