Roivant Sciences Ltd. (NASDAQ:ROIV) Sees Large Decrease in Short Interest

Roivant Sciences Ltd. (NASDAQ:ROIV – Get Rating) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 2,380,000 shares, a drop of 18.2% from the March 31st total of 2,910,000 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 400,300 shares, the short-interest ratio is currently 5.9 days.

ROIV opened at $3.96 on Thursday. Roivant Sciences has a 12 month low of $3.63 and a 12 month high of $16.76. The stock has a 50-day moving average of $4.73 and a 200 day moving average of $7.22.

Roivant Sciences (NASDAQ:ROIV – Get Rating) last announced its earnings results on Monday, February 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.18). The business had revenue of $24.34 million during the quarter, compared to analyst estimates of $10.13 million. Analysts anticipate that Roivant Sciences will post -1.29 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Roivant Sciences in a research note on Friday, April 29th. They set an “overweight” rating and a $15.00 target price for the company. Zacks Investment Research downgraded Roivant Sciences from a “hold” rating to a “sell” rating in a research note on Friday, February 18th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.00.

In related news, CEO Matthew Gline sold 92,324 shares of Roivant Sciences stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $5.52, for a total transaction of $509,628.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Pharma Technologies Ltd Dexcel purchased 8,600 shares of the stock in a transaction that occurred on Monday, April 25th. The shares were acquired at an average cost of $3.91 per share, with a total value of $33,626.00. Following the completion of the transaction, the insider now owns 98,849,443 shares in the company, valued at $386,501,322.13. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 372,113 shares of company stock valued at $1,902,993.

Several institutional investors have recently made changes to their positions in the company. SB Investment Advisers UK Ltd. purchased a new position in Roivant Sciences in the fourth quarter valued at about $1,001,706,000. BlackRock Inc. acquired a new stake in Roivant Sciences in the fourth quarter worth about $39,585,000. Geode Capital Management LLC acquired a new stake in Roivant Sciences in the fourth quarter worth about $11,694,000. Eventide Asset Management LLC acquired a new stake in shares of Roivant Sciences during the fourth quarter worth about $6,703,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Roivant Sciences during the fourth quarter worth about $6,967,000. Hedge funds and other institutional investors own 61.49% of the company’s stock.

Roivant Sciences Company Profile (Get Rating)

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.

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