Roivant Sciences (NASDAQ:ROIV) Given “Buy” Rating at HC Wainwright

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 59.29% from the stock’s previous close.

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

Roivant Sciences Stock Up 6.4%

ROIV stock opened at $11.30 on Wednesday. The business has a 50 day moving average of $10.53 and a 200 day moving average of $11.03. The firm has a market cap of $8.06 billion, a PE ratio of -75.33 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) last released 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 company had revenue of $7.57 million during the quarter, compared to analysts’ expectations 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 posted ($0.23) earnings per share. On average, research analysts expect that Roivant Sciences will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Roivant Sciences

In other 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 transaction of $3,489,673.32. Following the sale, the chief operating officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of Roivant Sciences 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,223,959 shares of company stock valued at $13,450,035. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after purchasing an additional 1,948 shares during the period. Parallel Advisors LLC boosted its stake in shares of Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after buying an additional 1,108 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Roivant Sciences in the fourth quarter worth $39,000. UMB Bank n.a. grew its holdings in shares of Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after acquiring an additional 2,195 shares during the period. Finally, Fifth Third Bancorp increased its position in Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock valued at $52,000 after acquiring an additional 1,905 shares during the last quarter. 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.