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 $10,354,320 were sold by QVT Financial LP on Sep 26 ’24. At $11.82 per share, QVT Financial LP sold 876,000 shares. The insider’s holdings dropped to 22,179,358 shares worth approximately $265.49 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, QVT Financial LP sold 50,000 shares, netting a total of over 588,500 in proceeds. Following the sale of shares at $11.77 each, the insider now holds 23,055,358 shares.
Before that, MANCHESTER KEITH S had sold 368,052 shares from its account. In a trade valued at $4,278,604, the Director traded Roivant Sciences Ltd shares for $11.62 each. Upon closing the transaction, the insider’s holdings decreased to 368,052 shares, worth approximately $16.9 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 4.00%. Over the course of the year, Roivant Sciences Ltd shares have jumped approximately 6.59%. Shares of the company reached a 52-week high of $13.06 on 09/09/24 and a 52-week low of $9.69 on 02/05/24. A 50-day SMA is recorded $11.69, while a 200-day SMA reached $11.08. Nevertheless, trading volume fell to 3.91 million shares from 3.9 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 11.88, which, if violated, would cause prices to drop to 11.78. In the upper region, resistance lies at 12.06. The next price resistance is at 12.15. RSI (Relative Strength Index) is 58.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.35, which suggests the price will decrease in the coming days. Percent R is at 9.29%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
