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

Roivant Sciences Ltd. (NASDAQ:ROIVGet Free Report) was the target of unusually large options trading on Thursday. Stock investors bought 37,582 call options on the stock. This is an increase of approximately 4,688% compared to the average daily volume of 785 call options.

Analysts Set New Price Targets

ROIV has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th.

Read Our Latest Research Report on ROIV

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.22, for a total value of $1,022,000.00. Following the completion of the sale, the chief operating officer now owns 1,116,345 shares of the company’s stock, valued at $11,409,045.90. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was 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 directly owns 39,799,611 shares of the company’s stock, valued at approximately $456,501,538.17. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,464,462 shares of company stock valued at $39,098,856 over the last quarter. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Roivant Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in ROIV. Parallel Advisors LLC lifted its position in shares of Roivant Sciences by 80.5% in the first 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. Russell Investments Group Ltd. lifted its position in shares of Roivant Sciences by 478.6% in the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after buying an additional 1,948 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Roivant Sciences in the fourth quarter worth about $39,000. UMB Bank n.a. lifted its position 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 buying an additional 2,195 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after buying an additional 1,905 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Trading Down 1.8%

Shares of NASDAQ:ROIV opened at $11.39 on Friday. Roivant Sciences has a 1 year low of $8.73 and a 1 year high of $13.06. The business has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $10.92. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -45.56 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIVGet Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The company had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. During the same period in the prior year, the firm earned ($0.23) EPS. On average, sell-side analysts forecast that Roivant Sciences will post -0.92 EPS for the current year.

Roivant Sciences Company Profile

(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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