Fidelity Management & Research Co has recently announced that it has increased stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 627.46%. After grabbing 30.37 million shares, the institutional investor is now in possession of 26.2 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.01% having worth around $245.71 million. Moreover, Adage Capital Management LP increased its share by 5.3 million to have a control over 9.0 million shares. And Two Seas Capital LP raised its holdings to 0.54 million shares by acquiring 6.41 million shares or 0.85% of the stake.
Roivant Sciences Ltd. (ROIV) concluded trading on 03/16/23 at a closing price of $8.50, with 2.04 million shares of worth about $17.34 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 130.98% during that period and on Thursday the price saw a loss of about -1.05%. Currently the company’s common shares owned by public are about 713.32M shares, out of which, 417.45M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the ROIV stock and their offered price forecasts bring an average price target of $13.63. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $19.00 and could fall to a lowest price of $10.00. The stock’s current price level is 37.36% above of average price target set by the analysts, while a rise to estimated low would result in gain of 15.0% for the stock. However, touching the estimated high of $19.00 would mean a gain of 55.26% for the stock.
Roivant Sciences Ltd. (NASDAQ: ROIV) started trading at $8.53, below -$0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 8.60, or with a loss of -1.05%. Stock saw a price change of 10.53% in past 5 days and over the past one month there was a price change of -2.75%. Year-to-date (YTD), ROIV shares are showing a performance of 6.38% which increased to 63.78% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.52 but also hit the highest price of $10.00 during that period. The average intraday trading volume for Roivant Sciences Ltd. shares is 2.49 million. The stock is currently trading 4.19% above its 20-day simple moving average (SMA20), while that difference is up 1.46% for SMA50 and it goes to 52.61% higher than SMA200.
Fidelity Management & Research Co acquired 30.37 million shares of Roivant Sciences Ltd. having value of about $245.71 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 26.2 million shares in the company valued at close to $222669910.0, or have control over 627.46% stake in the company. Roivant Sciences Ltd. (NASDAQ: ROIV) currently have 713.32M outstanding shares and institutions hold larger chunk of about 51.20% of that. Holding of mutual funds in the company is about 37.08% while other institutional holders and individual stake holders have control over 4.81% and 35.10% of the stake respectively.
The stock has a current market capitalization of $6.28B. It has posted earnings per share of -$1.78 in the same period. It has Quick Ratio of 6.70 while making debt-to-equity ratio of 0.43. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ROIV, volatility over the week remained 6.22% while standing at 5.33% over the month.
Analysts are in expectations that Roivant Sciences Ltd. (ROIV) stock would likely to be making an EPS of -$0.39 in the current quarter, while forecast for next quarter EPS is -$0.36 and it is -$1.32 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.5 which is -$0.29 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.41 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -6.80% while it is estimated to increase by 18.70% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Roivant Sciences Ltd. (ROIV)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 9 Wall Street analysts, 9 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on October 27, 2022 offering an Overweight rating for the stock and assigned a target price of $7 to it. Coverage by SVB Leerink stated Roivant Sciences Ltd. (ROIV) stock as an Outperform in their note to investors on May 23, 2022, suggesting a price target of $6 for the stock. On April 29, 2022, Cantor Fitzgerald Initiated their recommendations, while on December 15, 2021, Goldman Initiated their ratings for the stock with a price target of $15. Stock get a Buy rating from H.C. Wainwright on November 08, 2021.
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