Roivant Sciences (NASDAQ:ROIV) Trading 5% Higher - Still a Buy?

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report)'s stock price shot up 5% during mid-day trading on Wednesday . The company traded as high as $11.15 and last traded at $11.25. 1,658,030 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 5,485,951 shares. The stock had previously closed at $10.71.

Analyst Ratings Changes

A number of research analysts have recently commented on ROIV shares. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $18.08.

Roivant Sciences Trading Down 1.6 %

The firm has a 50 day moving average price of $10.78 and a two-hundred day moving average price of $11.46. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -71.93 and a beta of 1.26.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. As a group, research analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

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Insider Activity

In other Roivant Sciences news, CIO Mayukh Sukhatme sold 185,946 shares of the firm's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $12.00, for a total transaction of $2,231,352.00. Following the completion of the transaction, the executive now directly owns 18,836,547 shares of the company's stock, valued at $226,038,564. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric Venker sold 100,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the completion of the sale, the chief operating officer now owns 732,294 shares in the company, valued at approximately $8,260,276.32. This trade represents a 12.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,875,586 shares of company stock worth $21,491,661 over the last ninety days. Corporate insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Roivant Sciences

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Roivant Sciences by 0.3% during the fourth quarter. FMR LLC now owns 49,301,583 shares of the company's stock worth $583,238,000 after purchasing an additional 156,527 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock worth $521,553,000 after buying an additional 2,404,232 shares during the last quarter. State Street Corp lifted its position in shares of Roivant Sciences by 6.1% in the 3rd quarter. State Street Corp now owns 19,561,249 shares of the company's stock worth $225,737,000 after buying an additional 1,118,561 shares during the last quarter. Patient Square Capital LP boosted its holdings in shares of Roivant Sciences by 2.1% in the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company's stock valued at $147,638,000 after buying an additional 251,535 shares during the period. Finally, Two Seas Capital LP grew its position in shares of Roivant Sciences by 4.6% during the 4th quarter. Two Seas Capital LP now owns 10,167,807 shares of the company's stock valued at $120,285,000 after buying an additional 442,914 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Company Profile

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.