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ROIV (Roivant Sciences Ltd) may reap gains as insiders became active recently

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 $5.92 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 $6.63 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 Friday, Roivant Sciences Ltd [NASDAQ:ROIV] saw its stock fall -1.07% to $11.13. Over the last five days, the stock has lost -2.28%. Roivant Sciences Ltd shares have fallen nearly -0.89% since the year began. Nevertheless, the stocks have risen 20.59% over the past one year. While a 52-week high of $13.24 was reached on 03/04/24, a 52-week low of $8.24 was recorded on 02/05/24. SMA at 50 days reached $10.87, while 200 days put it at $10.64. A total of 2.56 million shares were traded, compared to the trading of 3.96 million shares in the previous session.

Levels Of Support And Resistance For ROIV Stock

The 24-hour chart illustrates a support level at 11.01, which if violated will result in even more drops to 10.88. On the upside, there is a resistance level at 11.37. A further resistance level may holdings at 11.60. The Relative Strength Index (RSI) on the 14-day chart is 51.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.29%. Stochastics %K at 64.32% indicates the stock is a holding.

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.

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