Roivant Sciences Ltd (NASDAQ: ROIV) stock fell -1.90% on Monday to $8.80 against a previous-day closing price of $8.97. With 3.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.39 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $9.05 whereas the lowest price it dropped to was $8.77. The 52-week range on ROIV shows that it touched its highest point at $13.24 and its lowest point at $4.71 during that stretch. It currently has a 1-year price target of $15.88. Beta for the stock currently stands at 1.27.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ROIV was down-trending over the past week, with a drop of -2.76%, but this was down by -8.90% over a month. Three-month performance dropped to -21.08% while six-month performance fell -8.90%. The stock gained 66.98% in the past year, while it has gained 10.14% so far this year. A look at the trailing 12-month EPS for ROIV yields -1.32 with Next year EPS estimates of -1.09. For the next quarter, that number is -0.29. This implies an EPS growth rate of -11.11% for this year and 14.62% for next year.
Float and Shares Shorts:
At present, 760.14 million ROIV shares are outstanding with a float of 543.64 million shares on hand for trading. On Oct 30, 2023, short shares totaled 33.23 million, which was 4.26% higher than short shares on Sep 28, 2023. In addition to ROIV as the firm’s Roivant Sciences Ltd., RIV serves as its RiverNorth Opportunities Fund, .
Through their ownership of 58.52% of ROIV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.30% of ROIV, in contrast to 44.03% held by mutual funds. Shares owned by individuals account for 13.20%. As the largest shareholder in ROIV with 14.22% of the stake, QVT Financial LP holds 112,541,536 shares worth 112,541,536. A second-largest stockholder of ROIV, Viking Global Investors LP, holds 73,434,301 shares, controlling over 9.28% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in ROIV, holding 38,882,928 shares or 4.91% stake.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ROIV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ROIV analysts setting a high price target of $23.00 and a low target of $11.00, the average target price over the next 12 months is $15.88. Based on these targets, ROIV could surge 161.36% to reach the target high and rise by 25.0% to reach the target low. Reaching the average price target will result in a growth of 80.45% from current levels.