Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) shot up 5.4% on Wednesday . The company traded as high as $11.66 and last traded at $11.71. 835,363 shares were traded during mid-day trading, a decline of 85% from the average session volume of 5,597,161 shares. The stock had previously closed at $11.11.
Wall Street Analysts Forecast Growth
ROIV has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday.
Get Our Latest Stock Analysis on ROIV
Roivant Sciences Trading Up 3.2%
The firm has a 50-day moving average price of $10.87 and a 200 day moving average price of $10.95. The company has a market cap of $7.79 billion, a price-to-earnings ratio of -45.78 and a beta of 1.16.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter last year, the business posted ($0.23) earnings per share. Research analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.
Insider Buying and Selling at Roivant Sciences
In related news, major shareholder Vivek Ramaswamy sold 273,959 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 39,799,611 shares in the company, valued at approximately $456,501,538.17. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eric Venker sold 434,478 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.82, for a total value of $4,701,051.96. Following the completion of the sale, the chief operating officer now owns 1,127,290 shares of the company's stock, valued at approximately $12,197,277.80. This trade represents a 27.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,972,189 shares of company stock worth $33,059,785. 7.90% of the stock is currently owned by company insiders.
Institutional Trading of Roivant Sciences
A number of hedge funds and other institutional investors have recently made changes to their positions in ROIV. Parallel Advisors LLC increased its holdings in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after buying an additional 1,108 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after purchasing an additional 1,948 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Roivant Sciences in the 4th quarter valued at about $39,000. UMB Bank n.a. increased its holdings 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 purchasing an additional 2,195 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Roivant Sciences by 59.3% in the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after buying an additional 1,905 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.
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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