Roivant Sciences (NASDAQ:ROIV) Stock Rating Upgraded by Wall Street Zen

Roivant Sciences (NASDAQ:ROIV) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other brokerages have also issued reports on ROIV. The Goldman Sachs Group boosted their price objective on Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Jefferies Financial Group raised their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Guggenheim reaffirmed a “buy” rating and issued a $25.00 target price on shares of Roivant Sciences in a research note on Friday. Finally, Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Roivant Sciences Stock Down 1.3%

ROIV stock opened at $20.29 on Friday. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $21.35. The company has a market cap of $13.86 billion, a P/E ratio of -36.23 and a beta of 1.23. The business has a fifty day moving average of $17.00 and a 200-day moving average of $13.35.

Insider Buying and Selling

In other Roivant Sciences news, CEO Eric Venker sold 683,818 shares of Roivant Sciences stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the completion of the sale, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. The trade was a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total value of $14,937,500.00. Following the transaction, the insider directly owned 36,089,108 shares of the company’s stock, valued at $451,113,850. The trade was a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,428,958 shares of company stock worth $80,491,638 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ROIV. Amundi grew its position in shares of Roivant Sciences by 18.1% during the first quarter. Amundi now owns 398,729 shares of the company’s stock valued at $3,991,000 after purchasing an additional 61,214 shares in the last quarter. Inspire Investing LLC purchased a new position in Roivant Sciences in the first quarter worth $303,000. IFG Advisory LLC purchased a new stake in shares of Roivant Sciences during the second quarter valued at $255,000. Peak Financial Advisors LLC acquired a new position in shares of Roivant Sciences in the 2nd quarter valued at $472,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Roivant Sciences during the second quarter valued at $3,064,000. 64.76% of the stock is currently owned by institutional investors.

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.