In a filing, Roivant Sciences Ltd. revealed its Chief Operating Officer Venker Eric unloaded Company’s shares for reported $0.71 million on Aug 14. In the deal valued at $11.89 per share,59,811 shares were sold. As a result of this transaction, Venker Eric now holds 627,918 shares worth roughly $ 7.33 million.
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Then, Venker Eric sold 44,629 shares, generating $532,424 in total proceeds. Upon selling the shares at $11.93, the Chief Operating Officer now owns 627,918 shares.
Before that, Kumar Rakhi sold 3,681 shares. Roivant Sciences Ltd. shares valued at $44,172 were divested by the Chief Accounting Officer at a price of $12.00 per share. As a result of the transaction, Kumar Rakhi now holds 199,328 shares, worth roughly $2.33 million.
BofA Securities initiated its Roivant Sciences Ltd. [ROIV] rating to a Neutral in a research note published on Friday, June 08, 2023; the price target was $10.50. PT values the company’s stock at a premium of -11.24 to its Friday closing price.
Price Performance Review of ROIV
On Friday, Roivant Sciences Ltd. [NASDAQ:ROIV] saw its stock jump 0.95% to $11.68. On the same session, the stock had its day’s lowest price of $11.46, but rose to a high of $11.935. Over the last five days, the stock has gained 4.85%. Roivant Sciences Ltd. shares have risen nearly 46.18% since the year began. Nevertheless, the stocks have risen 228.09% over the past one year. While a 52-week high of $12.01 was reached on 07/18/23, a 52-week low of $2.87 was recorded on 03/23/23. SMA at 50 days reached $11.06, while 200 days put it at $8.82. A total of 3.71 million shares were traded, compared to the trading of 3.8 million shares in the previous session.
Levels Of Support And Resistance For ROIV Stock
The 24-hour chart illustrates a support level at 11.45, which if violated will result in even more drops to 11.22. On the upside, there is a resistance level at 11.92. A further resistance level may holdings at 12.17. The Relative Strength Index (RSI) on the 14-day chart is 57.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.43, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 15.04%. Stochastics %K at 80.06% indicates the stock is a selling.
How much short interest is there in Roivant Sciences Ltd.?
A steep rise in short interest was recorded in Roivant Sciences Ltd. stocks on Aug 14, 2023, dropping by -0.55 million shares to a total of 20.39 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 20.94 million shares. There was a decline of -2.7%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.15% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.16.
Roivant Sciences Ltd. [ROIV] – Who Are The Largest Shareholders?
In filings from QVT Financial LP, it is revealed that the company now owns 122,541,536 shares, or roughly 15.98% of the outstanding ROIV shares. Additionally, Viking Global Investors LP decreased -14.73% of its stake after which the total value it holdings stand at $901,359,626, while Fidelity Management & Research Co added 16.93% of its stake to hold $430.91 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 3,167,758 shares of Roivant Sciences Ltd., while Morgan Stanley Investment Managem bought 10,912,717 shares. At present, Adage Capital Management LP is holding 11,090,300 shares valued at $132.86 million. BlackRock Fund Advisors owned 10,794,991 shares of the company at the time of its most recent 13F filing, worth $129.32 million.
According to FactSet, Roivant Sciences Ltd.’s share price will average $15.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.65 percent from its previous closing price of $11.57. Analysts expect Roivant Sciences Ltd. stock to reach the higher price of $23.00, while the lowest price estimate is $12.00. However, 9 analysts have rated ROIV stock as a Buy in their predictions for 2023.