Roivant Sciences’ (ROIV) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research note published on Monday,Benzinga reports. HC Wainwright currently has a $18.00 target price on the stock.

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

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $10.04 on Monday. Roivant Sciences has a 12-month low of $8.73 and a 12-month high of $13.06. The company has a market capitalization of $7.16 billion, a PE ratio of -66.93 and a beta of 1.25. The firm’s 50-day moving average is $10.32 and its two-hundred day moving average is $11.16.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating 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%. On average, analysts forecast that Roivant Sciences will post -0.92 EPS for the current fiscal year.

Insider Activity

In related news, CAO Rakhi Kumar sold 227,500 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Eric Venker sold 218,041 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.42, for a total transaction of $2,271,987.22. Following the completion of the sale, the chief operating officer now owns 896,869 shares in the company, valued at approximately $9,345,374.98. The trade was a 19.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,295,541 shares of company stock worth $13,900,538 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after purchasing an additional 1,108 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after acquiring an additional 1,948 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Roivant Sciences in the fourth quarter valued at $39,000. GAMMA Investing LLC raised its stake in Roivant Sciences by 57.0% in the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after buying an additional 1,288 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock valued at $42,000 after purchasing an additional 2,195 shares during the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

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.