The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Roivant Sciences Ltd shares valued at $1,165,000 were sold by Venker Eric on Oct 21 ’24. At $11.65 per share, Venker Eric sold 100,000 shares. The insider’s holdings dropped to 617,470 shares worth approximately $7.18 million following the completion of this transaction.
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Also, Venker Eric purchased 100,000 shares, netting a total of over 1,165,393 in proceeds.
Before that, QVT Financial LP had sold 876,000 shares from its account. In a trade valued at $10,354,320, the Director by Deputization traded Roivant Sciences Ltd shares for $11.82 each. Upon closing the transaction, the insider’s holdings decreased to 876,000 shares, worth approximately $257.72 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 drop of approximately -2.92%. Over the course of the year, Roivant Sciences Ltd shares have jumped approximately 3.47%. 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 $11.77, while a 200-day SMA reached $11.09. Nevertheless, trading volume fell to 4.1 million shares from 2.51 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 11.59, which, if violated, would cause prices to drop to 11.55. In the upper region, resistance lies at 11.67. The next price resistance is at 11.71. RSI (Relative Strength Index) is 47.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 50.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
