In a filing, Roivant Sciences Ltd revealed its President & COO Venker Eric unloaded Company’s shares for reported $1.06 million on Feb 09 ’24. In the deal valued at $10.92 per share,96,950 shares were sold. As a result of this transaction, Venker Eric now holds 532,207 shares worth roughly $5.3 million.
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Then, Ramaswamy Vivek sold 3,000,000 shares, generating $33,150,000 in total proceeds. Upon selling the shares at $11.05, the 10% Owner now owns 51,929,426 shares.
Before that, Venker Eric sold 153,027 shares. Roivant Sciences Ltd shares valued at $1,547,103 were divested by the Chief Operating Officer at a price of $10.11 per share. As a result of the transaction, Venker Eric now holds 595,397 shares, worth roughly $5.92 million.
Wolfe Research initiated its Roivant Sciences Ltd [ROIV] rating to an Outperform in a research note published on February 15, 2024; the price target was $17. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who began to cover the stock in early January with a ‘”an Overweight”‘ rating. Deutsche Bank began covering ROIV with “Buy” recommendation on December 12, 2023. Guggenheim started covering the stock on October 17, 2023. It rated ROIV as “a Buy”.
Price Performance Review of ROIV
On Monday, Roivant Sciences Ltd [NASDAQ:ROIV] saw its stock fall -1.97% to $9.95. Over the last five days, the stock has gained 0.81%. Roivant Sciences Ltd shares have fallen nearly -11.40% since the year began. Nevertheless, the stocks have risen 42.35% over the past one year. While a 52-week high of $13.24 was reached on 03/04/24, a 52-week low of $6.59 was recorded on 02/05/24. SMA at 50 days reached $10.74, while 200 days put it at $10.54. A total of 4.16 million shares were traded, compared to the trading of 6.34 million shares in the previous session.
Levels Of Support And Resistance For ROIV Stock
The 24-hour chart illustrates a support level at 9.82, which if violated will result in even more drops to 9.68. On the upside, there is a resistance level at 10.20. A further resistance level may holdings at 10.44. The Relative Strength Index (RSI) on the 14-day chart is 37.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.69%. Stochastics %K at 16.92% indicates the stock is a buying.
How much short interest is there in Roivant Sciences Ltd?
A steep rise in short interest was recorded in Roivant Sciences Ltd stocks on Feb 29, 2024, growing by 1.98 million shares to a total of 27.69 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 25.71 million shares. There was a rise of 7.15%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.44% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.61.
The most recent change occurred on June 08, 2023 when BofA Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $10.50 price target.
