Roivant Sciences (NASDAQ:ROIV) Trading 5.4% Higher - Should You Buy?

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) rose 5.4% during mid-day trading on Wednesday . The stock traded as high as $11.66 and last traded at $11.71. Approximately 835,363 shares traded hands during trading, a decline of 85% from the average daily volume of 5,597,161 shares. The stock had previously closed at $11.11.

Analysts Set New Price Targets

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

Roivant Sciences Price Performance

The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of -45.80 and a beta of 1.16. The company's 50-day moving average price is $10.97 and its two-hundred day moving average price is $10.94.

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). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. During the same period last year, the business posted ($0.23) earnings per share. On average, equities research analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 273,959 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were 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. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the completion of the sale, the chief operating officer now owns 1,116,345 shares of the company's stock, valued at $11,409,045.90. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,656,667 shares of company stock valued at $29,570,112. Corporate insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Roivant Sciences

A number of large investors have recently bought and sold shares of ROIV. Parallel Advisors LLC grew its holdings in Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after purchasing an additional 1,108 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Roivant Sciences by 478.6% in the fourth 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. Aster Capital Management DIFC Ltd acquired a new position in shares of Roivant Sciences during the fourth quarter valued at about $39,000. UMB Bank n.a. increased its position in shares of Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after acquiring an additional 1,905 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

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.