Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 45,130,000 shares, an increase of 45.9% from the March 31st total of 30,930,000 shares. Currently, 8.2% of the company's shares are short sold. Based on an average daily trading volume, of 7,280,000 shares, the days-to-cover ratio is presently 6.2 days.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on ROIV shares. The Goldman Sachs Group lifted their price target on shares of Roivant Sciences from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. Piper Sandler began coverage on shares of Roivant Sciences in a report on Friday, January 5th. They set an "overweight" rating and a $20.00 price target for the company. Bank of America boosted their target price on shares of Roivant Sciences from $11.00 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, January 2nd. TheStreet upgraded shares of Roivant Sciences from a "d" rating to a "c+" rating in a report on Tuesday, February 13th. Finally, Wolfe Research began coverage on shares of Roivant Sciences in a report on Thursday, February 15th. They issued an "outperform" rating and a $17.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.90.
Get Our Latest Research Report on Roivant Sciences
Roivant Sciences Trading Up 1.4 %
ROIV stock traded up $0.15 during midday trading on Friday, reaching $11.03. 3,109,700 shares of the company's stock traded hands, compared to its average volume of 6,612,257. The company has a market capitalization of $8.89 billion, a P/E ratio of 2.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 27.79 and a quick ratio of 27.79. Roivant Sciences has a fifty-two week low of $8.06 and a fifty-two week high of $13.24. The business has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $10.37.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $37.14 million for the quarter, compared to analysts' expectations of $30.72 million. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. Equities research analysts forecast that Roivant Sciences will post -1.36 EPS for the current fiscal year.
Insider Transactions at Roivant Sciences
In other news, COO Eric Venker sold 96,950 shares of Roivant Sciences stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the sale, the chief operating officer now directly owns 532,207 shares in the company, valued at $5,811,700.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.60% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of ROIV. Mirabella Financial Services LLP lifted its position in shares of Roivant Sciences by 4.1% during the third quarter. Mirabella Financial Services LLP now owns 34,583 shares of the company's stock worth $404,000 after purchasing an additional 1,362 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Roivant Sciences by 42.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company's stock worth $60,000 after purchasing an additional 1,608 shares in the last quarter. VELA Investment Management LLC lifted its position in shares of Roivant Sciences by 8.8% during the fourth quarter. VELA Investment Management LLC now owns 32,386 shares of the company's stock worth $364,000 after purchasing an additional 2,621 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Roivant Sciences during the fourth quarter worth $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Roivant Sciences during the fourth quarter worth $36,000. 64.76% of the stock is owned by institutional investors and hedge funds.
About Roivant Sciences
(
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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.
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