Roivant Sciences (NASDAQ:ROIV) Stock Rating Upgraded by Cantor Fitzgerald

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

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

Roivant Sciences Trading Down 2.1 %

Shares of ROIV stock opened at $11.13 on Thursday. Roivant Sciences has a twelve month low of $9.69 and a twelve month high of $13.06. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 1.97 and a beta of 1.27. The company’s 50-day moving average price is $11.69 and its 200-day moving average price is $11.60.

Insiders Place Their Bets

In other news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the completion of the sale, the chief operating officer now directly owns 732,294 shares of the company’s stock, valued at approximately $8,260,276.32. The trade was a 12.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Mayukh Sukhatme sold 412,584 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.05, for a total value of $4,971,637.20. Following the completion of the transaction, the executive now directly owns 18,836,547 shares in the company, valued at $226,980,391.35. This trade represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,942,629 shares of company stock worth $23,034,486 over the last 90 days. Corporate insiders own 7.90% of the company’s stock.

Institutional Trading of Roivant Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Roivant Sciences by 5.6% during the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after acquiring an additional 2,593,910 shares in the last quarter. State Street Corp lifted its holdings in shares of Roivant Sciences by 6.1% in the 3rd quarter. State Street Corp now owns 19,561,249 shares of the company’s stock valued at $225,737,000 after purchasing an additional 1,118,561 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Roivant Sciences by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after purchasing an additional 1,460,205 shares during the period. TOMS Capital Investment Management LP purchased a new position in Roivant Sciences during the 3rd quarter worth approximately $46,333,000. Finally, Loomis Sayles & Co. L P increased its position in Roivant Sciences by 13.3% during the third quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company’s stock worth $45,147,000 after buying an additional 458,601 shares during the period. Institutional investors and hedge funds 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.