Roivant Sciences (NASDAQ:ROIV) Hits New 1-Year Low – Here’s Why

Roivant Sciences Ltd. (NASDAQ:ROIV) reached a new 52-week low during trading on Monday . The stock traded as low as $8.73 and last traded at $8.84, with a volume of 1180879 shares trading hands. The stock had previously closed at $9.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Tuesday, February 11th.

Roivant Sciences Stock Down 3.3 %

The company has a fifty day simple moving average of $10.62 and a two-hundred day simple moving average of $11.32. The stock has a market capitalization of $6.53 billion, a P/E ratio of -61.06 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings data 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%. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $11.28, for a total value of $1,128,000.00. Following the completion of the sale, the chief operating officer now owns 732,294 shares of the company’s stock, valued at approximately $8,260,276.32. This represents a 12.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the acquisition, the director now owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. The trade was a 21.11 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,395,541 shares of company stock valued at $15,028,538 in the last ninety days. 7.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

A number of large investors have recently added to or reduced their stakes in ROIV. Russell Investments Group Ltd. lifted its stake in Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock valued at $28,000 after purchasing an additional 1,948 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Roivant Sciences during the fourth quarter worth about $39,000. GAMMA Investing LLC increased its holdings in Roivant Sciences by 57.0% in the 4th 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 during the period. PNC Financial Services Group Inc. raised its position in shares of Roivant Sciences by 27.0% in the 4th 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. Finally, Quarry LP lifted its holdings in shares of Roivant Sciences by 50.0% during the 3rd quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $87,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds 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.