Roivant Sciences (NASDAQ:ROIV) Receives “Buy” Rating from HC Wainwright

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

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

Roivant Sciences Stock Performance

ROIV stock opened at $11.44 on Wednesday. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The business’s 50-day moving average is $10.90 and its two-hundred day moving average is $10.96. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -45.76 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same period last year, the business posted ($0.23) EPS. Equities analysts predict that Roivant Sciences will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other Roivant Sciences news, COO Eric Venker sold 434,478 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.82, for a total transaction of $4,701,051.96. Following the completion of the sale, the chief operating officer now owns 1,127,290 shares of the company’s stock, valued at $12,197,277.80. This trade represents a 27.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivek Ramaswamy sold 200,800 shares of Roivant Sciences stock in a transaction on Friday, June 6th. The shares were sold at an average price of $11.19, for a total value of $2,246,952.00. Following the completion of the transaction, the insider now owns 38,426,381 shares of the company’s stock, valued at approximately $429,991,203.39. This trade represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,656,667 shares of company stock worth $29,570,112. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Roivant Sciences

A number of institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System increased its position in shares of Roivant Sciences by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 254,220 shares of the company’s stock worth $3,007,000 after purchasing an additional 4,959 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Roivant Sciences by 10.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 185,602 shares of the company’s stock worth $2,196,000 after purchasing an additional 17,217 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Roivant Sciences in the 4th quarter valued at about $143,000. New York State Common Retirement Fund increased its position in Roivant Sciences by 15.2% in the 4th quarter. New York State Common Retirement Fund now owns 219,793 shares of the company’s stock valued at $2,600,000 after acquiring an additional 29,000 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Roivant Sciences by 17.4% in the 4th quarter. Bank of New York Mellon Corp now owns 3,439,540 shares of the company’s stock valued at $40,690,000 after acquiring an additional 510,398 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.

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.