Roivant Sciences Target of Unusually Large Options Trading (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock traders acquired 37,582 call options on the company. This is an increase of approximately 4,688% compared to the average daily volume of 785 call options.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of recent research reports. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th.

Insider Activity at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 273,959 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total value of $3,142,309.73. Following the completion of the sale, the insider now owns 39,799,611 shares of the company's stock, valued at approximately $456,501,538.17. This represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Eric Venker sold 100,000 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $10.95, for a total transaction of $1,095,000.00. Following the transaction, the chief operating officer now owns 1,077,197 shares in the company, valued at approximately $11,795,307.15. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,464,462 shares of company stock valued at $39,098,856. Corporate insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Inspire Investing LLC bought a new stake in shares of Roivant Sciences during the 1st quarter worth $303,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Roivant Sciences by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company's stock worth $24,678,000 after purchasing an additional 34,341 shares in the last quarter. Zimmer Partners LP raised its position in Roivant Sciences by 111.3% during the first quarter. Zimmer Partners LP now owns 534,500 shares of the company's stock valued at $5,393,000 after purchasing an additional 281,600 shares in the last quarter. Clearline Capital LP purchased a new stake in shares of Roivant Sciences in the 1st quarter valued at $1,211,000. Finally, Goldman Sachs Group Inc. grew its position in Roivant Sciences by 15.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company's stock worth $24,553,000 after acquiring an additional 324,764 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Price Performance

Shares of ROIV stock traded down $0.21 on Friday, hitting $11.39. 11,069,902 shares of the company's stock were exchanged, compared to its average volume of 5,881,149. The company has a 50 day moving average of $11.08 and a 200 day moving average of $10.93. The stock has a market cap of $7.74 billion, a P/E ratio of -45.56 and a beta of 1.16. Roivant Sciences has a 12 month low of $8.73 and a 12 month high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same quarter last year, the business earned ($0.23) EPS. Sell-side analysts predict that Roivant Sciences will post -0.92 EPS for the current fiscal year.

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.