Cantor Fitzgerald Upgrades Roivant Sciences (NASDAQ:ROIV) to Strong-Buy

Roivant Sciences (NASDAQ:ROIV) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. One investment 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.93.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $11.13 on Thursday. Roivant Sciences has a one year low of $9.69 and a one year high of $13.06. The business has a fifty day moving average price of $11.69 and a 200 day moving average price of $11.60. The company has a market cap of $8.10 billion, a P/E ratio of 1.97 and a beta of 1.27.

Insider Activity

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the completion of the sale, the chief operating officer now directly owns 606,525 shares of the company’s stock, valued at $6,865,863. This represents a 14.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the business’s stock in a transaction on Monday, January 13th. The stock was acquired at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the transaction, the director now directly owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. This represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,942,629 shares of company stock valued at $23,034,486. 7.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund raised its stake in Roivant Sciences by 15.2% during the fourth quarter. New York State Common Retirement Fund now owns 219,793 shares of the company’s stock worth $2,600,000 after purchasing an additional 29,000 shares during the period. Venturi Wealth Management LLC acquired a new position in Roivant Sciences during the fourth quarter valued at approximately $143,000. State of New Jersey Common Pension Fund D grew its stake in Roivant Sciences by 10.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 185,602 shares of the company’s stock worth $2,196,000 after buying an additional 17,217 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of Roivant Sciences by 28.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 88,970 shares of the company’s stock valued at $1,053,000 after acquiring an additional 19,670 shares during the period. Finally, New York State Teachers Retirement System increased its holdings in Roivant Sciences by 2.0% in the 4th quarter. New York State Teachers Retirement System now owns 254,220 shares of the company’s stock valued at $3,007,000 after purchasing an additional 4,959 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 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.