Roivant Sciences (NASDAQ:ROIV) Shares Up 5.5% - What's Next?

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Cantor Fitzgerald upgraded 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 target price on shares of Roivant Sciences in a research report on Wednesday, May 28th.

Roivant Sciences Trading Up 1.6%

The stock's 50-day simple moving average is $10.54 and its 200-day simple moving average is $11.02. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -74.46 and a beta of 1.23.

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 analysts' consensus estimates of ($0.16) by ($0.15). The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. During the same period in the prior year, the company earned ($0.23) EPS. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other Roivant Sciences news, COO Eric Venker sold 315,522 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $11.06, for a total value of $3,489,673.32. Following the transaction, the chief operating officer now directly owns 959,457 shares of the company's stock, valued at $10,611,594.42. This trade represents a 24.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the sale, the insider now directly owns 39,799,611 shares of the company's stock, valued at approximately $456,501,538.17. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,223,959 shares of company stock worth $13,450,035. Company insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROIV. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Roivant Sciences by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company's stock valued at $24,678,000 after purchasing an additional 34,341 shares during the last quarter. Zimmer Partners LP boosted its position in Roivant Sciences by 111.3% in the first quarter. Zimmer Partners LP now owns 534,500 shares of the company's stock valued at $5,393,000 after buying an additional 281,600 shares in the last quarter. Clearline Capital LP acquired a new stake in Roivant Sciences in the first quarter valued at approximately $1,211,000. Goldman Sachs Group Inc. grew its stake in shares of Roivant Sciences by 15.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company's stock worth $24,553,000 after buying an additional 324,764 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in shares of Roivant Sciences during the first quarter worth $205,000. Institutional investors and hedge funds own 64.76% of the company's stock.

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.