Roivant Sciences (NASDAQ:ROIV) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Roivant Sciences Ltd. (NASDAQ:ROIV) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $36.64 and traded as high as $37.13. Roivant Sciences shares last traded at $37.11, with a volume of 5,773,173 shares traded.

Wall Street Analysts Forecast Growth

ROIV has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. Citigroup lifted their target price on shares of Roivant Sciences from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group set a $55.00 target price on shares of Roivant Sciences in a report on Wednesday, September 9th. Finally, HC Wainwright increased their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

Roivant Sciences Stock Down 1.6%

The stock has a fifty day moving average of $36.65 and a 200 day moving average of $31.46.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. As a group, analysts anticipate that Roivant Sciences Ltd. will post -2.00 earnings per share for the current year.

Insider Activity

In other news, Director Melissa Epperly sold 17,750 shares of Roivant Sciences stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $36.10, for a total value of $640,775.00. Following the sale, the director directly owned 14,954 shares of the company’s stock, valued at approximately $539,839.40. The trade was a 54.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00. Following the completion of the sale, the chief executive officer owned 1,399,154 shares in the company, valued at $49,124,296.94. This represents a 12.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,822,688 shares of company stock worth $66,176,636 over the last 90 days. Corporate insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Compass Financial Management LLC bought a new position in Roivant Sciences in the 3rd quarter valued at $37,000. Oregon Public Employees Retirement Fund lifted its position in shares of Roivant Sciences by 20.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 112,252 shares of the company’s stock worth $4,105,000 after purchasing an additional 19,100 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Roivant Sciences during the third quarter worth $35,624,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Roivant Sciences during the third quarter worth $1,550,000. Finally, Profund Advisors LLC boosted its stake in shares of Roivant Sciences by 10.7% during the third quarter. Profund Advisors LLC now owns 62,821 shares of the company’s stock valued at $2,297,000 after purchasing an additional 6,070 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Company Profile

Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.