Roivant Sciences (NASDAQ:ROIV) Shares Gap Up to $10.08

Roivant Sciences Ltd. (NASDAQ:ROIV) gapped up prior to trading on Wednesday . The stock had previously closed at $10.08, but opened at $10.72. Roivant Sciences shares last traded at $10.75, with a volume of 4,818,374 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ROIV shares. Bank of America increased their target price on shares of Roivant Sciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. TheStreet upgraded shares of Roivant Sciences from a “d” rating to a “c+” rating in a research report on Tuesday, February 13th. Truist Financial restated a “buy” rating and set a $23.00 price objective on shares of Roivant Sciences in a research report on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Roivant Sciences in a research report on Tuesday, December 12th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Roivant Sciences in a research report on Friday, January 5th. They set an “overweight” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Roivant Sciences Stock Down 2.8 %

The business’s 50 day moving average is $10.74 and its 200-day moving average is $10.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 27.79 and a quick ratio of 27.79. The company has a market cap of $8.49 billion, a PE ratio of 2.03 and a beta of 1.37.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The company had revenue of $37.14 million for the quarter, compared to analysts’ expectations of $30.72 million. As a group, analysts predict that Roivant Sciences Ltd. will post -1.36 EPS for the current year.

Insider Activity

In related news, COO Eric Venker sold 96,950 shares of Roivant Sciences stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.92, for a total value of $1,058,694.00. Following the transaction, the chief operating officer now directly owns 532,207 shares in the company, valued at approximately $5,811,700.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.05, for a total value of $33,150,000.00. Following the sale, the insider now directly owns 51,929,426 shares in the company, valued at approximately $573,820,157.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Eric Venker sold 96,950 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the sale, the chief operating officer now owns 532,207 shares in the company, valued at $5,811,700.44. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Dagco Inc. purchased a new stake in shares of Roivant Sciences in the 4th quarter worth about $27,000. Citigroup Inc. increased its stake in shares of Roivant Sciences by 1,803.6% during the 1st quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock valued at $28,000 after acquiring an additional 5,447 shares during the last quarter. Royal Bank of Canada increased its position in Roivant Sciences by 60,550.0% during the 1st quarter. Royal Bank of Canada now owns 6,065 shares of the company’s stock worth $30,000 after purchasing an additional 6,055 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Roivant Sciences during the 4th quarter valued at approximately $33,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Roivant Sciences during the 4th quarter valued at approximately $36,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

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.