Roivant Sciences Ltd. [ROIV] Is Currently 5.73 above its 200 Period Moving Avg: What Does This Mean?

Roivant Sciences Ltd. [NASDAQ: ROIV] stock went on an upward path that rose over 5.73% on Wednesday, amounting to a one-week price increase of more than 0.13%. The company report on January 4, 2023 that Roivant Announces Statistically Significant and Clinically Meaningful Results from the Induction Period of TUSCANY-2, a Large Global Phase 2b Study of Subcutaneous RVT-3101 for the Treatment of Ulcerative Colitis in Both the Overall and the Biomarker Positive Patient Populations.

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RVT-3101 demonstrated statistically significant and clinically meaningful efficacy at each dose tested.

Across all patients treated with RVT-3101, the clinical remission and endoscopic improvement rates were 32% and 40%, respectively. Similar results were observed at the expected Phase 3 dose.

Over the last 12 months, ROIV stock dropped by -23.71%. The one-year Roivant Sciences Ltd. stock forecast points to a potential upside of 38.29. The average equity rating for ROIV stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.41 billion, with 699.89 million shares outstanding and 440.82 million shares in the current float. Compared to the average trading volume of 1.81M shares, ROIV stock reached a trading volume of 4087383 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Roivant Sciences Ltd. [ROIV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROIV shares is $12.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROIV stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Roivant Sciences Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 27, 2022. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on May 23, 2022, representing the official price target for Roivant Sciences Ltd. stock. Previously, the target price had yet another raise to $15, while Cantor Fitzgerald analysts kept a Overweight rating on ROIV stock.

The Average True Range (ATR) for Roivant Sciences Ltd. is set at 0.51, with the Price to Sales ratio for ROIV stock in the period of the last 12 months amounting to 107.31. The Price to Book ratio for the last quarter was 4.55, with the Price to Cash per share for the same quarter was set at 2.24.

ROIV Stock Performance Analysis:

Roivant Sciences Ltd. [ROIV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.13. With this latest performance, ROIV shares gained by 20.00% in over the last four-week period, additionally plugging by 56.85% over the last 6 months – not to mention a drop of -23.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ROIV stock in for the last two-week period is set at 60.26, with the RSI for the last a single of trading hit 57.79, and the three-weeks RSI is set at 61.53 for Roivant Sciences Ltd. [ROIV]. The present Moving Average for the last 50 days of trading for this stock 6.02, while it was recorded at 7.64 for the last single week of trading, and 4.52 for the last 200 days.

Insight into Roivant Sciences Ltd. Fundamentals:

Reflecting on the efficiency of the workforce at the company, Roivant Sciences Ltd. [ROIV] managed to generate an average of -$193,201 per employee.Roivant Sciences Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 7.40.

Roivant Sciences Ltd. [ROIV] Insider Position Details

There are presently around $2,801 million, or 51.20% of ROIV stock, in the hands of institutional investors. The top three institutional holders of ROIV stocks are: QVT FINANCIAL LP with ownership of 129,393,817, which is approximately 0% of the company’s market cap and around 14.50% of the total institutional ownership; SB INVESTMENT ADVISERS (UK) LTD, holding 99,375,586 shares of the stock with an approximate value of $751.28 million in ROIV stocks shares; and VIKING GLOBAL INVESTORS LP, currently with $667.09 million in ROIV stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Roivant Sciences Ltd. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 41 institutional holders increased their position in Roivant Sciences Ltd. [NASDAQ:ROIV] by around 13,788,182 shares. Additionally, 25 investors decreased positions by around 3,742,884 shares, while 19 investors held positions by with 352,997,366 shares. The mentioned changes placed institutional holdings at 370,528,432 shares, according to the latest SEC report filing. ROIV stock had 15 new institutional investments in for a total of 3,230,239 shares, while 7 institutional investors sold positions of 1,833,697 shares during the same period.


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