HC Wainwright Reaffirms Buy Rating for Roivant Sciences (NASDAQ:ROIV)

HC Wainwright restated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV - Free Report) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $18.00 target price on the stock.

Separately, Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock traded up $0.01 on Wednesday, hitting $11.45. The company had a trading volume of 18,135,570 shares, compared to its average volume of 5,626,927. The stock has a 50-day moving average of $10.97 and a 200-day moving average of $10.94. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $13.06. The firm has a market capitalization of $7.78 billion, a P/E ratio of -45.80 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Equities analysts predict that Roivant Sciences will post -0.92 EPS for the current 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 Monday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the sale, the chief operating officer now directly owns 1,116,345 shares of the company's stock, valued at $11,409,045.90. The trade was a 8.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Vivek Ramaswamy sold 200,800 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $11.19, for a total transaction of $2,246,952.00. Following the sale, the insider now directly owns 38,426,381 shares in the company, valued at $429,991,203.39. This trade represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,656,667 shares of company stock valued at $29,570,112 in the last three months. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROIV. Russell Investments Group Ltd. increased its stake in shares of Roivant Sciences by 478.6% during the 4th 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. Parallel Advisors LLC increased its stake in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after purchasing an additional 1,108 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Roivant Sciences during the 4th quarter worth about $39,000. UMB Bank n.a. increased its stake in shares of Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after purchasing an additional 2,195 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares during the last quarter. 64.76% of the stock is 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.