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

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

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

Roivant Sciences Trading Down 2.1 %

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

Insider Activity

In related news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The shares were purchased at an average price 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 $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total value of $1,132,000.00. Following the transaction, the chief operating officer now owns 606,525 shares of the company’s stock, valued at approximately $6,865,863. This represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,942,629 shares of company stock valued at $23,034,486 over the last ninety days. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Roivant Sciences by 5.6% in the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock valued at $567,134,000 after buying an additional 2,593,910 shares in the last quarter. State Street Corp boosted its position in Roivant Sciences by 6.1% during the third quarter. State Street Corp now owns 19,561,249 shares of the company’s stock worth $225,737,000 after purchasing an additional 1,118,561 shares in the last quarter. Geode Capital Management LLC grew its holdings in Roivant Sciences by 23.2% in the third 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 stake in shares of Roivant Sciences in the third quarter valued at approximately $46,333,000. Finally, Loomis Sayles & Co. L P lifted its position in shares of Roivant Sciences by 13.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company’s stock valued at $45,147,000 after buying an additional 458,601 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

About Roivant Sciences

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.