Roivant Sciences (NASDAQ:ROIV) Trading Up 5% – Here’s Why

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

Wall Street Analyst Weigh In

ROIV has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Roivant Sciences has a consensus rating of “Buy” and an average target price of $18.08.

Roivant Sciences Stock Up 3.2 %

The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -73.50 and a beta of 1.26. The company’s 50 day simple moving average is $10.78 and its two-hundred day simple moving average is $11.48.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating 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%. Analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, CIO Mayukh Sukhatme sold 185,946 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $12.00, for a total value of $2,231,352.00. Following the completion of the sale, the executive now directly owns 18,836,547 shares in the company, valued at $226,038,564. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rakhi Kumar sold 227,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the transaction, the chief accounting officer now directly owns 163,264 shares of the company’s stock, valued at approximately $1,702,843.52. This represents a 58.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,975,586 shares of company stock worth $22,640,661 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in shares of Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after purchasing an additional 1,948 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Roivant Sciences during the fourth quarter worth $39,000. US Bancorp DE raised its holdings in shares of Roivant Sciences by 146.5% during the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after purchasing an additional 1,948 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Roivant Sciences by 57.0% during the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock worth $42,000 after purchasing an additional 1,288 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Roivant Sciences by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after buying an additional 1,507 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.