Roivant Sciences (NASDAQ:ROIV) Stock Price Up 5.5% - Should You Buy?

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s stock price rose 5.5% during trading on Thursday . The stock traded as high as $11.03 and last traded at $11.21. Approximately 1,844,674 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,565,688 shares. The stock had previously closed at $10.62.

Wall Street Analyst Weigh In

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

Roivant Sciences Trading Down 2.8%

The firm has a market cap of $7.83 billion, a PE ratio of -73.20 and a beta of 1.23. The company's 50-day moving average is $10.54 and its 200 day moving average is $11.02.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The firm had revenue of $7.57 million during the quarter, compared to analysts' expectations of $62.17 million. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. During the same quarter last year, the company posted ($0.23) EPS. On average, research analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 273,959 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 39,799,611 shares in the company, valued at approximately $456,501,538.17. This represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Venker sold 434,478 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.82, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,223,959 shares of company stock worth $13,450,035. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ROIV. Norges Bank acquired a new position in Roivant Sciences in the 4th quarter valued at approximately $52,443,000. Nuveen LLC acquired a new position in shares of Roivant Sciences during the 1st quarter worth $31,988,000. Invesco Ltd. increased its stake in shares of Roivant Sciences by 49.7% during the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock worth $112,563,000 after purchasing an additional 3,159,603 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Roivant Sciences by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock worth $521,553,000 after purchasing an additional 2,404,232 shares during the last quarter. Finally, TOMS Capital Investment Management LP increased its stake in shares of Roivant Sciences by 46.6% during the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company's stock worth $69,620,000 after purchasing an additional 1,870,000 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

About Roivant Sciences

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.