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

Roivant Sciences (NASDAQ:ROIV - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $18.00 price objective on the stock. HC Wainwright's price target suggests a potential upside of 64.76% from the company's previous close.

Separately, Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th.

Roivant Sciences Price Performance

Roivant Sciences stock traded up $0.19 during mid-day trading on Monday, hitting $10.93. 578,358 shares of the company were exchanged, compared to its average volume of 5,410,012. Roivant Sciences has a 12-month low of $8.73 and a 12-month high of $13.06. The business's 50 day simple moving average is $10.33 and its two-hundred day simple moving average is $11.15. The company has a market capitalization of $7.80 billion, a P/E ratio of -72.90 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. Equities research analysts predict that Roivant Sciences will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Roivant Sciences

In related news, CAO Rakhi Kumar sold 227,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the completion of the sale, the chief accounting officer now directly owns 163,264 shares in the company, valued at approximately $1,702,843.52. This represents a 58.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric Venker sold 100,000 shares of the company'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 completion of the transaction, the chief operating officer now directly owns 1,116,345 shares in the company, valued at approximately $11,409,045.90. The trade was a 8.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,395,541 shares of company stock valued at $14,922,538. Company insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Penn Davis Mcfarland Inc. lifted its position in shares of Roivant Sciences by 3.5% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company's stock worth $17,226,000 after purchasing an additional 58,206 shares during the last quarter. Fifth Third Bancorp raised its stake 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 buying an additional 1,905 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Roivant Sciences during the 1st quarter worth approximately $570,000. GAMMA Investing LLC grew its position in shares of Roivant Sciences by 83.0% in the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after acquiring an additional 2,945 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after acquiring an additional 2,195 shares during the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

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.