Roivant Sciences (NASDAQ:ROIV) Shares Gap Up to $10.43

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $10.43, but opened at $10.93. Roivant Sciences shares last traded at $11.19, with a volume of 3,044,850 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on ROIV. Bank of America raised their target price on Roivant Sciences from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 2nd. Piper Sandler started coverage on Roivant Sciences in a report on Friday, January 5th. They set an "overweight" rating and a $20.00 price objective for the company. HC Wainwright cut their price objective on Roivant Sciences from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 14th. Wolfe Research began coverage on Roivant Sciences in a report on Thursday, February 15th. They set an "outperform" rating and a $17.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Roivant Sciences in a research note on Tuesday, December 12th. They issued a "buy" rating and a $14.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.50.

Roivant Sciences Stock Up 4.7 %

The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $10.36. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 2.13 and a beta of 1.34.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.07. The company had revenue of $37.14 million for the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. Equities analysts expect that Roivant Sciences Ltd. will post -1.36 EPS for the current year.

Insider Transactions at Roivant Sciences

In related news, COO Eric Venker sold 96,950 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.92, for a total value of $1,058,694.00. Following the completion of the transaction, the chief operating officer now owns 532,207 shares in the company, valued at approximately $5,811,700.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.60% of the stock is owned by company insiders.

Institutional Trading of Roivant Sciences

Several institutional investors and hedge funds have recently made changes to their positions in ROIV. Citigroup Inc. increased its position in shares of Roivant Sciences by 45.6% in the 3rd quarter. Citigroup Inc. now owns 326,431 shares of the company's stock valued at $3,813,000 after buying an additional 102,279 shares in the last quarter. Morgan Stanley increased its position in shares of Roivant Sciences by 48.7% in the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company's stock valued at $225,560,000 after buying an additional 6,324,915 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Roivant Sciences by 18.4% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 1,604,487 shares of the company's stock worth $18,740,000 after purchasing an additional 249,513 shares during the period. Artia Global Partners LP boosted its stake in shares of Roivant Sciences by 422.5% during the 2nd quarter. Artia Global Partners LP now owns 824,363 shares of the company's stock worth $8,310,000 after buying an additional 666,600 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Roivant Sciences during the 3rd quarter worth about $4,200,000. 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.