Roivant Sciences (NASDAQ:ROIV) Shares Gap Up After Earnings Beat

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s stock price gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $10.89, but opened at $11.41. Roivant Sciences shares last traded at $10.99, with a volume of 577,463 shares trading hands.

The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Tuesday. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $17.93.

Insider Buying and Selling

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $11.49, for a total value of $1,149,000.00. Following the completion of the sale, the chief operating officer now directly owns 595,580 shares of the company's stock, valued at approximately $6,843,214.20. The trade was a 14.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Mayukh Sukhatme sold 412,584 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.05, for a total value of $4,971,637.20. Following the transaction, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,980,391.35. This represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,942,629 shares of company stock worth $23,034,486 in the last ninety days. Insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Roivant Sciences in the 4th quarter valued at about $52,443,000. TOMS Capital Investment Management LP acquired a new stake in shares of Roivant Sciences in the third quarter worth approximately $46,333,000. Invesco Ltd. boosted its position in shares of Roivant Sciences by 49.7% in the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock worth $112,563,000 after acquiring an additional 3,159,603 shares during the last quarter. FMR LLC grew its holdings in Roivant Sciences by 5.6% in the third quarter. FMR LLC now owns 49,145,056 shares of the company's stock valued at $567,134,000 after purchasing an additional 2,593,910 shares during the period. Finally, Vanguard Group Inc. increased its position in Roivant Sciences by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock worth $521,553,000 after purchasing an additional 2,404,232 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Stock Up 0.1 %

The company has a market cap of $7.61 billion, a PE ratio of 1.85 and a beta of 1.25. The stock's 50 day simple moving average is $11.41 and its two-hundred day simple moving average is $11.59.

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.