Roivant Sciences (NASDAQ:ROIV) Earns “Buy” Rating from HC Wainwright

Roivant Sciences (NASDAQ:ROIVGet Free Report)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $18.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 57.34% from the company’s previous close.

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

Read Our Latest Stock Analysis on ROIV

Roivant Sciences Price Performance

NASDAQ ROIV opened at $11.44 on Wednesday. The firm’s 50-day moving average is $10.94 and its two-hundred day moving average is $10.95. Roivant Sciences has a 12 month low of $8.73 and a 12 month high of $13.06. The stock has a market capitalization of $7.78 billion, a P/E ratio of -45.76 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIVGet Free Report) last posted 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). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. 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 previous year, the company earned ($0.23) EPS. As a group, analysts anticipate that Roivant Sciences will post -0.92 EPS for the current year.

Insider Transactions at Roivant Sciences

In related news, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $10.22, for a total value of $1,022,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 547,430 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $11.34, for a total transaction of $6,207,856.20. Following the completion of the sale, the insider now directly owns 38,627,181 shares in the company, valued at approximately $438,032,232.54. This trade represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,656,667 shares of company stock valued at $29,570,112. 7.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after purchasing an additional 1,108 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Roivant Sciences by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company’s stock worth $2,213,000 after purchasing an additional 1,170 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Roivant Sciences by 1.5% during the fourth quarter. WINTON GROUP Ltd now owns 92,526 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,332 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Roivant Sciences by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company’s stock worth $173,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Roivant Sciences by 7.5% during the fourth quarter. Covestor Ltd now owns 20,634 shares of the company’s stock worth $245,000 after acquiring an additional 1,444 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

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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