Roivant Sciences (NASDAQ:ROIV) Sets New 1-Year High – Here’s Why

Roivant Sciences Ltd. (NASDAQ:ROIV)’s stock price hit a new 52-week high on Monday . The company 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 Analyst Weigh In

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. TD Cowen boosted their price objective 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. Citigroup increased their price objective on shares of Roivant Sciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Leerink Partners set a $42.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $33.59.

Roivant Sciences Price Performance

The firm has a market capitalization of $25.45 billion, a PE ratio of -58.98 and a beta of 1.13. The firm has a 50-day simple moving average of $29.88 and a 200-day simple moving average of $27.02.

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

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline sold 289,774 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $29.16, for a total transaction of $8,449,809.84. Following the completion of the sale, the chief executive officer directly owned 16,736,116 shares of the company’s stock, valued at approximately $488,025,142.56. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Humes sold 13,538 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total transaction of $384,073.06. Following the completion of the transaction, the chief accounting officer owned 84,191 shares in the company, valued at $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. Over the last three months, insiders have sold 2,341,475 shares of company stock valued at $76,791,271. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roivant Sciences

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its holdings in Roivant Sciences by 1,740.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock valued at $27,000 after purchasing an additional 1,166 shares during the period. Allworth Financial LP lifted its position in shares of Roivant Sciences by 48.1% during the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after buying an additional 583 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Roivant Sciences by 33.7% during the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock valued at $57,000 after acquiring an additional 520 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Roivant Sciences during the 4th quarter valued at approximately $47,000. Finally, Bessemer Group Inc. increased its holdings in Roivant Sciences by 21.8% in the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock worth $69,000 after acquiring an additional 441 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

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.