We recently published a list of 10 Firms End 2024 Stronger With Impressive Gains. In this article, we are going to take a look at where Roivant Sciences Ltd. (NASDAQ:ROIV) against other firms end 2024 stronger with impressive gains.

A lackluster trading persisted throughout the last day of the year, with Wall Street’s main indices ending the day mixed.

The Dow Jones Industrial Average dipped by 0.07 percent, the S&P 500 shed 0.43 percent, and the Nasdaq Composite declined by 0.90 percent. Meanwhile, NYSE Composite inched up by 0.10 percent and S&P Composite rose by 0.44 percent.

Despite the lack of catalysts to spark trading, 10 companies–predominantly in the biopharmaceuticals sector–posted impressive gains. Let’s explore the reasons behind their outstanding performance.

To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A research scientist in a lab coat examining a sample of blood for sickle cell diseases.

Roivant Sciences Ltd. (NASDAQ:ROIV)

Shares of Roivant Sciences (NASDAQ:ROIV) rallied on Wednesday, ending the day up by 3.5 percent at $11.83 each. Year-to-date, the company’s stock price grew by 4.22 percent from the $11.35 registered on January 2, 2024.

While there were no clear catalysts that could perk up its share prices, investors seemed to have snapped up its shares while waiting on the sidelines for the Trump administration’s return to office. Roivant’s (NASDAQ:ROIV) co-founder, Vivek Ramaswamy is set to join the incoming administration in a high-profile role, serving as the co-head of the Department of Government Efficiency (DOGE), along with technology mogul Elon Musk.

Investors may be anticipating that Ramaswamy’s cabinet appointment could signal a favorable environment for Roivant (NASDAQ:ROIV), particularly in the areas of regulatory reform and government efficiency, which could benefit the industry as a whole.

Roivant (NASDAQ:ROIV) is a biotechnology company that works with patents and develops medicines for commercial sales. It owns various subsidiaries including Immunovant, Priovant, Genevant, Pulmovant, Lokavant, Datavant, Covant, Psivant, and Vantai.

Overall, ROIV ranks 9th on our list of firms end 2024 stronger with impressive gains. While we acknowledge the potential of ROIV as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ROIV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.