Roivant Sciences (NASDAQ:ROIV) Trading Down 4%

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV – Get Free Report) dropped 4% during trading on Thursday . The stock traded as low as $10.37 and last traded at $10.41. Approximately 3,304,999 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 5,686,605 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

ROIV has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on shares of Roivant Sciences in a report on Friday, January 5th. They issued an “overweight” rating and a $20.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $23.00 price target on shares of Roivant Sciences in a report on Monday. TheStreet upgraded shares of Roivant Sciences from a “d” rating to a “c+” rating in a report on Tuesday, February 13th. Wolfe Research began coverage on shares of Roivant Sciences in a report on Thursday, February 15th. They set an “outperform” rating and a $17.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Roivant Sciences in a report on Tuesday, December 12th. They set a “buy” rating and a $14.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

View Our Latest Research Report on ROIV

Roivant Sciences Price Performance

The company’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $10.38. The company has a market cap of $8.49 billion, a P/E ratio of 2.03 and a beta of 1.37. The company has a current ratio of 27.79, a quick ratio of 27.79 and a debt-to-equity ratio of 0.06.

Roivant Sciences (NASDAQ:ROIV – Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, beating 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 business had revenue of $37.14 million during the quarter, compared to the consensus estimate of $30.72 million. As a group, sell-side analysts expect that Roivant Sciences Ltd. will post -1.36 earnings per share for the current year.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now 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 available through the SEC website. In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the company’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 completion of the transaction, the insider now 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 SEC, which is available through the SEC website. Also, COO Eric Venker sold 96,950 shares of the company’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 transaction, the chief operating officer now owns 532,207 shares of the company’s stock, valued at approximately $5,811,700.44. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Institutional Trading of Roivant Sciences

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

About Roivant Sciences

(Get Free Report)

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.

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