Roivant Sciences Ltd. [ROIV] fell -3.75% so far this year. What now?

Roivant Sciences Ltd. [NASDAQ: ROIV] traded at a high on 03/29/23, posting a 4.63 gain after which it closed the day’ session at $7.69. The company report on March 28, 2023 that Covant and Boehringer Ingelheim Collaborate to Develop a Novel ADAR1 Inhibitor for Use in Cancer Patients.

Covant significantly accelerates drug discovery for challenging targets like ADAR1 by using its industry-leading platform, which combines high-throughput chemoproteomics-based screening in the native setting with structural proteomics. Covant is systematically applying its platform to discover novel, high-value first-in-class and best-in-class therapeutics.

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The results of the trading session contributed to over 2504168 shares changing hands. Over the past one week, the price volatility of Roivant Sciences Ltd. stands at 6.81% while the volatility over the past one month is 6.06%.

The market cap for ROIV stock reached $5.89 billion, with 713.32 million shares outstanding and 440.82 million shares in the current float. Compared to the average trading volume of 2.91M shares, ROIV reached a trading volume of 2504168 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $13.86 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 0.49, with the Price to Sales ratio for ROIV stock in the period of the last 12 months amounting to 136.69. The Price to Book ratio for the last quarter was 5.74, with the Price to Cash per share for the same quarter was set at 1.99.

How has ROIV stock performed recently?

Roivant Sciences Ltd. [ROIV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.78. With this latest performance, ROIV shares dropped by -4.94% in over the last four-week period, additionally plugging by 147.27% over the last 6 months – not to mention a rise of 60.88% 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 47.79, with the RSI for the last a single of trading hit 49.33, and the three-weeks RSI is set at 48.05 for Roivant Sciences Ltd. [ROIV]. The present Moving Average for the last 50 days of trading for this stock 8.11, while it was recorded at 7.23 for the last single week of trading, and 5.75 for the last 200 days.

Roivant Sciences Ltd. [ROIV]: Deeper insight into the 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 6.70 and a Current Ratio set at 6.70.

Insider trade positions for Roivant Sciences Ltd. [ROIV]

There are presently around $3,055 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 122,541,536, which is approximately -5.296% of the company’s market cap and around 14.50% of the total institutional ownership; SB INVESTMENT ADVISERS (UK) LTD, holding 95,031,667 shares of the stock with an approximate value of $698.48 million in ROIV stocks shares; and VIKING GLOBAL INVESTORS LP, currently with $648.55 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 Monday and at the time of the Monday reporting period, where 80 institutional holders increased their position in Roivant Sciences Ltd. [NASDAQ:ROIV] by around 61,966,134 shares. Additionally, 26 investors decreased positions by around 16,822,561 shares, while 15 investors held positions by with 336,883,310 shares. The mentioned changes placed institutional holdings at 415,672,005 shares, according to the latest SEC report filing. ROIV stock had 43 new institutional investments in for a total of 21,788,739 shares, while 10 institutional investors sold positions of 3,643,400 shares during the same period.


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