Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Roivant Sciences Ltd shares valued at $1,058,694 were sold by Venker Eric on Feb 09 ’24. At $10.92 per share, Venker Eric sold 96,950 shares. The insider’s holdings dropped to 532,207 shares worth approximately $5.46 million following the completion of this transaction.
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Also, Ramaswamy Vivek sold 3,000,000 shares, netting a total of over 33,150,000 in proceeds. Following the sale of shares at $11.05 each, the insider now holds 51,929,426 shares.
Before that, Venker Eric had sold 153,027 shares from its account. In a trade valued at $1,547,103, the Chief Operating Officer traded Roivant Sciences Ltd shares for $10.11 each. Upon closing the transaction, the insider’s holdings decreased to 153,027 shares, worth approximately $6.11 million.
As published in their initiating research note from Wolfe Research on February 15, 2024, Roivant Sciences Ltd [ROIV] has been an Outperform and the price target has been revised to $17. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in early January. As of December 12, 2023, Deutsche Bank has initiated its “Buy” rating for ROIV. Earlier on October 17, 2023, Guggenheim initiated its rating. Their recommendation was “a Buy” for ROIV stock.
Analyzing ROIV Stock Performance
During the last five days, there has been a surge of approximately 0.29%. Over the course of the year, Roivant Sciences Ltd shares have dropped approximately -8.64%. Shares of the company reached a 52-week high of $12.00 on 03/04/24 and a 52-week low of $9.69 on 02/05/24. A 50-day SMA is recorded $10.78, while a 200-day SMA reached $10.54. Nevertheless, trading volume fell to 6.33 million shares from 4.15 million shares the previous day.
Support And Resistance Levels for Roivant Sciences Ltd (ROIV)
According to the 24-hour chart, there is a support level at 10.13, which, if violated, would cause prices to drop to 10.01. In the upper region, resistance lies at 10.43. The next price resistance is at 10.61. RSI (Relative Strength Index) is 41.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.52, which suggests the price will decrease in the coming days. Percent R is at 77.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Roivant Sciences Ltd subject to short interest?
Stocks of Roivant Sciences Ltd saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.98 million shares to 27.69 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 25.71 million shares. A jump of 7.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.61.
