Traders Buy Large Volume of Roivant Sciences Call Options (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) saw some unusual options trading on Thursday. Investors purchased 37,582 call options on the stock. This is an increase of approximately 4,688% compared to the typical daily volume of 785 call options.

Insider Activity at Roivant Sciences

In related news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the transaction, the chief operating officer now directly owns 1,116,345 shares in the company, valued at approximately $11,409,045.90. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vivek Ramaswamy sold 547,430 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $11.34, for a total transaction of $6,207,856.20. Following the completion of the sale, the insider now owns 38,627,181 shares of the company’s stock, valued at approximately $438,032,232.54. This trade represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,464,462 shares of company stock valued at $39,098,856 over the last 90 days. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROIV. Inspire Investing LLC bought a new position in Roivant Sciences during the first quarter worth about $303,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Roivant Sciences by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company’s stock worth $24,678,000 after buying an additional 34,341 shares during the period. Zimmer Partners LP grew its stake in Roivant Sciences by 111.3% in the 1st quarter. Zimmer Partners LP now owns 534,500 shares of the company’s stock valued at $5,393,000 after buying an additional 281,600 shares in the last quarter. Clearline Capital LP bought a new stake in Roivant Sciences during the 1st quarter valued at $1,211,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Roivant Sciences by 15.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company’s stock worth $24,553,000 after acquiring an additional 324,764 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several research analyst reports. Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th.

Roivant Sciences Trading Up 1.8%

NASDAQ:ROIV opened at $11.60 on Friday. Roivant Sciences has a 12 month low of $8.73 and a 12 month high of $13.06. The firm’s 50 day moving average is $11.08 and its 200 day moving average is $10.93. The stock has a market capitalization of $7.89 billion, a PE ratio of -46.40 and a beta of 1.16.

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

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.