Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s stock price gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $11.49, but opened at $10.90. Roivant Sciences shares last traded at $11.25, with a volume of 581,150 shares.
The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 2,111.79% and a negative return on equity of 15.90%. The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. During the same period in the previous year, the company posted ($0.23) earnings per share.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ROIV. HC Wainwright reaffirmed 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 raised Roivant Sciences to a "strong-buy" rating and set a $19.00 price target for the company in a report on Thursday, July 10th.
Read Our Latest Research Report on Roivant Sciences
Insider Activity
In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following the completion of the sale, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Venker sold 100,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $11.52, for a total value of $1,152,000.00. Following the sale, the chief executive officer owned 1,462,223 shares of the company's stock, valued at $16,844,808.96. The trade was a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,190,503 shares of company stock valued at $36,086,546 in the last 90 days. 10.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On Roivant Sciences
Several institutional investors and hedge funds have recently made changes to their positions in ROIV. CWM LLC raised its position in shares of Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company's stock valued at $34,000 after acquiring an additional 920 shares in the last quarter. Parallel Advisors LLC grew its position in Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after buying an additional 1,108 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Roivant Sciences by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company's stock valued at $2,213,000 after buying an additional 1,170 shares in the last quarter. M&T Bank Corp grew its position in Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company's stock valued at $144,000 after buying an additional 1,181 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Roivant Sciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company's stock valued at $173,000 after buying an additional 1,434 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
Roivant Sciences Trading Down 0.6%
The stock's 50-day moving average is $11.36 and its 200-day moving average is $10.89. The stock has a market cap of $8.08 billion, a P/E ratio of -16.99 and a beta of 1.15.
About Roivant Sciences
(
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.
Featured Stories
Before you consider Roivant Sciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Roivant Sciences wasn't on the list.
While Roivant Sciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.