HC Wainwright Reiterates Buy Rating for Roivant Sciences (NASDAQ:ROIV)

HC Wainwright restated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV - Free Report) in a research note published on Wednesday,Benzinga reports. The firm currently has a $18.00 price target on the stock.

Separately, Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th.

Roivant Sciences Trading Down 2.8%

NASDAQ:ROIV traded down $0.32 during trading hours on Wednesday, reaching $10.98. 7,126,135 shares of the company were exchanged, compared to its average volume of 5,559,049. The stock's 50-day moving average is $10.54 and its 200-day moving average is $11.03. The firm has a market cap of $7.83 billion, a PE ratio of -73.20 and a beta of 1.23. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). The business had revenue of $7.57 million during the quarter, compared to analyst estimates 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 earned ($0.23) earnings per share. As a group, research analysts anticipate that Roivant Sciences will post -0.92 EPS for the current year.

Insider Activity

In other news, major shareholder Vivek Ramaswamy sold 273,959 shares of the 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 completion of the sale, the insider now owns 39,799,611 shares of the company's stock, valued at $456,501,538.17. This represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were 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 directly owns 1,116,345 shares of the company's stock, valued at approximately $11,409,045.90. This trade represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,223,959 shares of company stock valued at $13,450,035 in the last 90 days. Company insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Roivant Sciences by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company's stock worth $24,678,000 after buying an additional 34,341 shares during the period. Zimmer Partners LP boosted its stake in Roivant Sciences by 111.3% during the first quarter. Zimmer Partners LP now owns 534,500 shares of the company's stock worth $5,393,000 after buying an additional 281,600 shares during the period. Clearline Capital LP purchased a new position in Roivant Sciences during the first quarter worth about $1,211,000. Goldman Sachs Group Inc. boosted its stake in 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 period. Finally, Teza Capital Management LLC purchased a new position in Roivant Sciences during the first quarter worth about $205,000. Hedge funds and other institutional investors 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.