Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Roivant Sciences Ltd shares valued at $1,132,008 were purchased by Venker Eric on Nov 20 ’24. At $11.32 per share, Venker Eric acquired 100,000 shares.
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Also, Venker Eric sold 100,000 shares, netting a total of over 1,165,000 in proceeds. Following the sale of shares at $11.65 each, the insider now holds 617,470 shares.
Before that, Venker Eric had added 100,000 shares to its account. In a trade valued at $1,165,393, the Officer bought Roivant Sciences Ltd shares for $11.65 each.
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 1.55%. Over the course of the year, Roivant Sciences Ltd shares have jumped approximately 5.25%. 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 $11.68, while a 200-day SMA reached $11.21. Nevertheless, trading volume fell to 7.2 million shares from 3.07 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 11.64, which, if violated, would cause prices to drop to 11.45. In the upper region, resistance lies at 11.99. The next price resistance is at 12.15. RSI (Relative Strength Index) is 54.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 27.91%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
