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

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.62 and last traded at $39.0310, with a volume of 710937 shares trading hands. The stock had previously closed at $34.93.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, May 21st. TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a report on Thursday, August 6th. Guggenheim lifted their price objective on shares of Roivant Sciences from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Roivant Sciences in a report on Friday, August 28th. Finally, Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Roivant Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

Roivant Sciences Stock Up 14.1%

The stock has a market capitalization of $28.79 billion, a PE ratio of -75.20 and a beta of 1.12. The stock’s 50-day moving average is $35.30 and its 200 day moving average is $31.26.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The firm had revenue of $1.44 million for the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. As a group, equities research analysts forecast that Roivant Sciences Ltd. will post -2 EPS for the current year.

Insiders Place Their Bets

In other Roivant Sciences news, insider Mayukh Sukhatme sold 284,707 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $36.25, for a total value of $10,320,628.75. Following the completion of the sale, the insider directly owned 18,630,739 shares of the company’s stock, valued at $675,364,288.75. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total value of $6,632,000.00. Following the completion of the transaction, the chief executive officer owned 1,613,063 shares of the company’s stock, valued at $53,489,169.08. The trade was a 11.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,055,913 shares of company stock valued at $107,261,258 in the last three months. Company insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Roivant Sciences by 15.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company’s stock worth $24,553,000 after buying an additional 324,764 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Roivant Sciences by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company’s stock valued at $24,678,000 after acquiring an additional 34,341 shares during the last quarter. American Century Companies Inc. grew its holdings in Roivant Sciences by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 89,625 shares of the company’s stock worth $1,010,000 after acquiring an additional 1,689 shares during the period. Russell Investments Group Ltd. raised its position in shares of Roivant Sciences by 149.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company’s stock valued at $129,000 after acquiring an additional 6,879 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock valued at $144,000 after purchasing an additional 1,181 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

About Roivant Sciences

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.