Roivant Sciences (NASDAQ:ROIV) Upgraded by Cantor Fitzgerald to “Strong-Buy” Rating

Cantor Fitzgerald upgraded shares of Roivant Sciences (NASDAQ:ROIV) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Separately, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $17.93.

Roivant Sciences Trading Down 2.1 %

Roivant Sciences stock opened at $11.13 on Thursday. The firm has a market cap of $8.10 billion, a PE ratio of 1.97 and a beta of 1.27. Roivant Sciences has a 12 month low of $9.69 and a 12 month high of $13.06. The stock’s 50 day simple moving average is $11.69 and its two-hundred day simple moving average is $11.60.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the completion of the transaction, the chief operating officer now owns 732,294 shares of the company’s stock, valued at $8,260,276.32. This represents a 12.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the purchase, the director now directly owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 1,942,629 shares of company stock valued at $23,034,486. 7.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROIV. Gladius Capital Management LP purchased a new stake in shares of Roivant Sciences during the third quarter worth $35,000. US Bancorp DE boosted its position in Roivant Sciences by 146.5% during the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after acquiring an additional 1,948 shares during the last quarter. GAMMA Investing LLC boosted its position in Roivant Sciences by 57.0% during the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock worth $42,000 after acquiring an additional 1,288 shares during the last quarter. Quarry LP purchased a new stake in Roivant Sciences during the 2nd quarter valued at about $53,000. Finally, Blue Trust Inc. raised its holdings in Roivant Sciences by 550.1% in the 4th quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock valued at $91,000 after acquiring an additional 6,667 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Company Profile

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.