Roivant Sciences (NASDAQ:ROIV) Reaches New 12-Month High – Here’s What Happened

Roivant Sciences Ltd. (NASDAQ:ROIV)’s share price reached a new 52-week high during mid-day trading 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

ROIV has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Piper Sandler restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research report 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, Sanford C. Bernstein started coverage on Roivant Sciences in a research report on Friday, March 20th. They issued an “outperform” rating and a $35.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.59.

Roivant Sciences Stock Down 0.6%

The stock’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $27.58. The company has a market cap of $25.96 billion, a price-to-earnings ratio of -60.15 and a beta of 1.11.

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

Insider Activity at Roivant Sciences

In other Roivant Sciences news, Director Melissa B. Epperly sold 17,750 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $34.38, for a total transaction of $610,245.00. Following the transaction, the director directly owned 16,474 shares in the company, valued at $566,376.12. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Gline sold 289,774 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total value of $8,449,809.84. Following the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,345,687 shares of company stock worth $77,017,443. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Roivant Sciences by 18.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock valued at $295,965,000 after acquiring an additional 1,286,464 shares during the period. GAMMA Investing LLC increased its stake in Roivant Sciences by 17.4% during the second quarter. GAMMA Investing LLC now owns 14,637 shares of the company’s stock worth $518,000 after purchasing an additional 2,172 shares during the period. Versant Capital Management Inc increased its stake in Roivant Sciences by 13.9% during the second quarter. Versant Capital Management Inc now owns 3,995 shares of the company’s stock worth $141,000 after purchasing an additional 487 shares during the period. Pacer Advisors Inc. increased its stake in Roivant Sciences by 37.1% during the first quarter. Pacer Advisors Inc. now owns 96,303 shares of the company’s stock worth $2,668,000 after purchasing an additional 26,044 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Roivant Sciences by 1,468.5% during the first quarter. Empowered Funds LLC now owns 285,915 shares of the company’s stock worth $7,920,000 after purchasing an additional 267,686 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.