Shares of Roivant Sciences Ltd. (NASDAQ:ROIV – Get Rating) rose 7.7% during trading on Tuesday after SVB Leerink raised their price target on the stock from $8.00 to $10.00. SVB Leerink currently has an outperform rating on the stock. Roivant Sciences traded as high as $7.13 and last traded at $7.10. Approximately 50,822 shares were traded during trading, a decline of 95% from the average daily volume of 931,108 shares. The stock had previously closed at $6.59.
Several other research analysts have also recently commented on ROIV. JPMorgan Chase & Co. initiated coverage on shares of Roivant Sciences in a report on Thursday, October 27th. They issued an “overweight” rating and a $7.00 target price for the company. Citigroup boosted their target price on shares of Roivant Sciences from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.50.
Insider Buying and Selling at Roivant Sciences
In other Roivant Sciences news, CEO Matthew Gline sold 21,053 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $3.07, for a total transaction of $64,632.71. Following the transaction, the chief executive officer now directly owns 1,183,285 shares in the company, valued at approximately $3,632,684.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Roivant Sciences news, COO Eric Venker sold 11,729 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $7.00, for a total value of $82,103.00. Following the transaction, the chief operating officer now owns 1,022,118 shares of the company’s stock, valued at $7,154,826. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Gline sold 21,053 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $3.07, for a total value of $64,632.71. Following the completion of the sale, the chief executive officer now directly owns 1,183,285 shares of the company’s stock, valued at $3,632,684.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,744,782 shares of company stock worth $27,233,717. Insiders own 13.00% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Roivant Sciences by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 119,063 shares of the company’s stock worth $384,000 after purchasing an additional 4,493 shares in the last quarter. Balyasny Asset Management LLC raised its stake in Roivant Sciences by 456.2% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,753,210 shares of the company’s stock valued at $5,645,000 after acquiring an additional 1,437,970 shares during the period. Jane Street Group LLC acquired a new stake in Roivant Sciences during the 3rd quarter valued at $48,000. BNP Paribas Arbitrage SNC acquired a new position in shares of Roivant Sciences in the third quarter valued at $49,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Roivant Sciences by 15.1% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 272,549 shares of the company’s stock worth $878,000 after buying an additional 35,783 shares during the period. 51.44% of the stock is owned by institutional investors and hedge funds.
Roivant Sciences Stock Performance
The company’s fifty day simple moving average is $5.43 and its two-hundred day simple moving average is $4.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.43 and a current ratio of 7.43. The stock has a market capitalization of $5.00 billion, a P/E ratio of -4.18 and a beta of 1.86.
Roivant Sciences (NASDAQ:ROIV – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). The business had revenue of $12.53 million during the quarter, compared to analyst estimates of $6.71 million. Roivant Sciences had a negative return on equity of 62.36% and a negative net margin of 2,336.55%. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -1.72 EPS for the current year.
Roivant Sciences Company Profile
Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops medicines. The company develops product candidates for the treatment of various therapeutics, including solid tumors, sickle cell diseases, hypophosphatasia, oncologic malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, warm autoimmune hemolytic anemia, thyroid eye diseases, sarcoidosis, and staph aureus bacteremia.