Fidelity Management & Research Co recently announced the acquisition of new stake in Roivant Sciences Ltd. (NASDAQ:ROIV). The institutional investor has increased its shareholding in the Healthcare company by 16.93% to 35.97 million shares with purchase of 5.21 million shares. This fresh investment now brings its stake to 4.66% valued currently at $416.17 million. In addition, Wellington Management Co. LLP raised its holdings by 3.17 million to 15.2 million shares. And Morgan Stanley Investment Managem has lifted its position by 1,279.16% or 10.91 million shares – to 11.77 million shares.
With over 22.38 million Roivant Sciences Ltd. (ROIV) shares trading Friday and a closing price of $11.29 on the day, the dollar volume was approximately $252.67 million. The shares have shown a positive half year performance of 32.82% and its price on 09/15/23 lost nearly -1.74%. Currently, there are 759.27M common shares owned by the public and among those 512.76M shares have been available to trade.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for ROIV have a consensus price objective of $15.88. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $12.00. The average price target is 27.72% above its recent price level and an upside to the estimated low will see the stock gain 5.92% over that period. But an upside of 50.91% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
However, the script later moved the day high at 11.56, down -1.74%. The company’s stock has a 5-day price change of -10.40% and 13.81% over the past three months. ROIV shares are trading 41.30% year to date (YTD), with the 12-month market performance up to 206.79% higher. It has a 12-month low price of $2.87 and touched a high of $12.84 over the same period. ROIV has an average intraday trading volume of 5.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.96%, -0.56%, and 24.35% respectively.
Institutional ownership of Roivant Sciences Ltd. (NASDAQ: ROIV) shares accounts for 51.20% of the company’s 759.27M shares outstanding. Mutual fund holders own 56.50%, while other institutional holders and individual stakeholders account for 9.93% and 41.79% respectively.
It has a market capitalization of $8.87B and a beta (3y monthly) value of 1.28. The earnings-per-share (ttm) stands at -$1.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.80% over the week and 4.68% over the month.
Analysts forecast that Roivant Sciences Ltd. (ROIV) will achieve an EPS of -$0.29 for the current quarter, -$0.29 for the next quarter and -$1.18 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.33 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was -$0.42 a year ago. Earnings per share for the fiscal year are expected to decrease by -24.90%, and 2.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Roivant Sciences Ltd. (ROIV) as a “Strong Buy” at a consensus score of 1.80. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ROIV, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on June 08, 2023, with the firm’s price target at $10.50.
