Roivant Sciences (NASDAQ:ROIV) Releases Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Roivant Sciences (NASDAQ:ROIV - Get Free Report) issued its earnings results on Thursday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15), RTT News reports. The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. During the same quarter in the previous year, the company earned ($0.23) earnings per share.

Roivant Sciences Trading Down 2.8%

ROIV traded down $0.32 on Friday, hitting $10.98. The company had a trading volume of 7,126,135 shares, compared to its average volume of 5,559,049. The firm has a market cap of $7.83 billion, a P/E ratio of -73.20 and a beta of 1.23. The company's fifty day moving average price is $10.54 and its 200 day moving average price is $11.03. Roivant Sciences has a 1 year low of $8.73 and a 1 year high of $13.06.

Analysts Set New Price Targets

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

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 434,478 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.82, for a total value of $4,701,051.96. Following the completion of the transaction, the chief operating officer now owns 1,127,290 shares in the company, valued at approximately $12,197,277.80. This represents a 27.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the firm's stock in a transaction dated 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 directly owns 39,799,611 shares in the company, valued at approximately $456,501,538.17. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,223,959 shares of company stock valued at $13,450,035. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roivant Sciences

An institutional investor recently raised its position in Roivant Sciences stock. Goldman Sachs Group Inc. grew its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,433,386 shares of the company's stock after acquiring an additional 324,764 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.34% of Roivant Sciences worth $24,553,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.