Roivant Sciences (NASDAQ:ROIV) Shares Up 5% – Here’s What Happened

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

Analyst Upgrades and Downgrades

ROIV has been the topic of several research reports. Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Tuesday, February 11th. One equities 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. According to data from MarketBeat.com, Roivant Sciences currently has a consensus rating of “Buy” and a consensus price target of $18.08.

Roivant Sciences Stock Up 0.3 %

The business has a fifty day moving average of $10.78 and a 200 day moving average of $11.48. The firm has a market cap of $7.83 billion, a P/E ratio of -73.13 and a beta of 1.26.

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

Insiders Place Their Bets

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the transaction, the chief operating officer now directly owns 896,869 shares of the company’s stock, valued at approximately $9,551,654.85. The trade was a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rakhi Kumar sold 227,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the sale, the chief accounting officer now directly owns 163,264 shares in the company, 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. Over the last three months, insiders have sold 1,875,586 shares of company stock worth $21,491,661. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 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 acquiring an additional 1,948 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Roivant Sciences during the 4th quarter worth about $39,000. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 1,288 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,507 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Roivant Sciences by 50.0% during the third quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $87,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

About Roivant Sciences

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.