Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 4,956,005 shares changed hands during trading, a decline of 13% from the previous session's volume of 5,728,009 shares.The stock last traded at $11.22 and had previously closed at $10.86.
Wall Street Analysts Forecast Growth
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 report on Wednesday, June 18th. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective for the company in a research report on Thursday.
Check Out Our Latest Report on ROIV
Roivant Sciences Stock Down 1.8%
The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -45.44 and a beta of 1.15. The company's fifty day simple moving average is $11.11 and its 200 day simple moving average is $10.86.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The firm 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 14.76% and a negative net margin of 225.71%. During the same period in the prior year, the company earned ($0.23) EPS. As a group, analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.
Insider Buying and Selling
In other news, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the sale, the insider owned 37,284,108 shares of the company's stock, valued at $427,275,877.68. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.45, for a total value of $1,145,000.00. Following the transaction, the chief operating officer owned 1,462,223 shares in the company, valued at approximately $16,742,453.35. This trade represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,464,462 shares of company stock valued at $39,098,856 in the last three months. Insiders own 7.90% of the company's stock.
Institutional Investors Weigh In On Roivant Sciences
A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Roivant Sciences by 83.0% in the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after acquiring an additional 2,945 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Roivant Sciences by 10.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 565,337 shares of the company's stock valued at $6,688,000 after buying an additional 51,705 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after buying an additional 1,948 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Roivant Sciences during the 4th quarter valued at about $995,000. Finally, Monimus Capital Management LP purchased a new position in Roivant Sciences during the 4th quarter valued at about $1,621,000. 64.76% of the stock is currently owned by institutional investors.
Roivant Sciences Company Profile
(
Get Free Report)
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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