Roivant Sciences Target of Unusually High Options Trading (NASDAQ:ROIV)

Key Points

• Roivant Sciences experienced a significant uptick in options trading activity, with 22,740 call options purchased, marking a 672% increase over the average volume.
• Analysts have set new price targets for the stock, with HC Wainwright and Citigroup recommending "buy" ratings and price targets of $18.00 and $16.00, respectively, while Goldman Sachs upgraded it to a "strong-buy" rating with a $19.00 target.
• Company insiders, including CEO Eric Venker and major shareholder Vivek Ramaswamy, sold approximately 485,000 shares recently, which corresponds to minor decreases in their ownership stakes.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) was the target of some unusual options trading on Tuesday. Stock traders purchased 22,740 call options on the company. This is an increase of approximately 672% compared to the typical daily volume of 2,947 call options.

Analysts Set New Price Targets

Several brokerages have commented on ROIV. Citigroup began coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday, June 18th. Finally, The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective on the stock in a research note on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Strong Buy" and an average price target of $17.67.

Insider Transactions at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 385,816 shares of Roivant Sciences stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the completion of the transaction, the insider owned 35,508,359 shares in the company, valued at approximately $460,188,332.64. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric Venker sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total value of $1,172,000.00. Following the sale, the chief executive officer owned 1,653,585 shares of the company's stock, valued at approximately $19,380,016.20. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,218,022 shares of company stock worth $39,010,006. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

Several large investors have recently modified their holdings of ROIV. Parallel Advisors LLC increased its stake in shares of Roivant Sciences by 80.5% during the 1st 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 last quarter. CWM LLC grew its stake in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company's stock valued at $34,000 after buying an additional 920 shares in the last quarter. UMB Bank n.a. grew its stake in Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after buying an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Roivant Sciences by 94.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock valued at $46,000 after buying an additional 2,233 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Trading Down 2.3%

Shares of ROIV traded down $0.33 on Friday, reaching $14.08. The company's stock had a trading volume of 7,587,042 shares, compared to its average volume of 6,257,181. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $14.48. The stock has a market capitalization of $9.61 billion, a PE ratio of -20.11 and a beta of 1.15. The firm has a fifty day moving average of $11.86 and a 200-day moving average of $11.14.

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.