Roivant Sciences (NASDAQ:ROIV) Trading Up 5% – What’s Next?

Roivant Sciences Ltd. (NASDAQ:ROIV)’s share price was up 5% during mid-day trading on Wednesday . The stock traded as high as $11.15 and last traded at $11.25. Approximately 1,658,030 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 5,485,951 shares. The stock had previously closed at $10.71.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $18.08.

Roivant Sciences Stock Performance

The business’s 50 day moving average price is $10.78 and its 200-day moving average price is $11.48. The company has a market cap of $7.83 billion, a price-to-earnings ratio of -73.13 and a beta of 1.26.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. On average, equities research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Roivant Sciences

In related news, COO Eric Venker sold 218,041 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.42, for a total transaction of $2,271,987.22. Following the completion of the sale, the chief operating officer now owns 896,869 shares in the company, valued at $9,345,374.98. This trade represents a 19.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of Roivant Sciences stock in a transaction on Monday, January 13th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the transaction, the director now owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 1,875,586 shares of company stock valued at $21,491,661. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

Large investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina raised its position in Roivant Sciences by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company’s stock valued at $2,213,000 after purchasing an additional 1,170 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Roivant Sciences by 57.0% in the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after buying an additional 1,288 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Roivant Sciences by 1.5% in the fourth quarter. WINTON GROUP Ltd now owns 92,526 shares of the company’s stock valued at $1,095,000 after buying an additional 1,332 shares during the last quarter. Covestor Ltd lifted its position in Roivant Sciences by 7.5% during the 4th quarter. Covestor Ltd now owns 20,634 shares of the company’s stock worth $245,000 after buying an additional 1,444 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock worth $84,000 after acquiring an additional 1,507 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Company Profile

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.