Roivant Sciences' (ROIV) Buy Rating Reaffirmed at HC Wainwright
Roivant Sciences (NASDAQ:ROIV - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 target price on the stock. HC Wainwright's price objective would indicate a potential upside of 67.29% from the company's current price.
Separately, Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th.
Get Our Latest Stock Analysis on ROIV
Shares of Roivant Sciences stock opened at $10.76 on Wednesday. The firm has a 50-day simple moving average of $10.53 and a two-hundred day simple moving average of $11.04. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The company has a market cap of $7.68 billion, a P/E ratio of -71.73 and a beta of 1.23.
In other Roivant Sciences news, COO Eric Venker sold 315,522 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $11.06, for a total value of $3,489,673.32. Following the transaction, the chief operating officer now owns 959,457 shares in the company, valued at approximately $10,611,594.42. This trade represents a 24.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the completion of the sale, the insider now owns 39,799,611 shares of the company's stock, valued at $456,501,538.17. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,223,959 shares of company stock valued at $13,450,035. 7.90% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ROIV. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Roivant Sciences by 1.4% during the 1st 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. Zimmer Partners LP raised its stake in Roivant Sciences by 111.3% during the first quarter. Zimmer Partners LP now owns 534,500 shares of the company's stock worth $5,393,000 after purchasing an additional 281,600 shares during the period. Clearline Capital LP acquired a new position in Roivant Sciences in the 1st quarter valued at about $1,211,000. Goldman Sachs Group Inc. raised 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 valued at $24,553,000 after buying an additional 324,764 shares during the period. Finally, Teza Capital Management LLC acquired a new position in Roivant Sciences in the first quarter valued at approximately $205,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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