Traders Purchase High Volume of Call Options on Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) saw some unusual options trading on Tuesday. Stock investors bought 22,740 call options on the company. This represents an increase of 672% compared to the typical daily volume of 2,947 call options.

Insider Transactions at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 385,816 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $12.96, for a total value of $5,000,175.36. Following the sale, the insider directly owned 35,508,359 shares in the company, valued at $460,188,332.64. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric Venker sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00. Following the completion of the sale, the chief executive officer owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,218,022 shares of company stock worth $39,010,006. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Roivant Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC increased its stake in Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after acquiring an additional 920 shares during the period. Parallel Advisors LLC increased its stake in Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after acquiring an additional 1,108 shares during the period. M&T Bank Corp boosted its holdings in shares of Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock valued at $144,000 after purchasing an additional 1,181 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Roivant Sciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company’s stock valued at $173,000 after purchasing an additional 1,434 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Roivant Sciences by 22.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,978 shares of the company’s stock valued at $90,000 after purchasing an additional 1,485 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ROIV shares. Citigroup started coverage on Roivant Sciences in a report on Tuesday, September 2nd. They issued a “buy” rating and a $16.00 price target on the stock. The Goldman Sachs Group upgraded Roivant Sciences to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Thursday, July 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $17.67.

Roivant Sciences Stock Up 2.2%

NASDAQ:ROIV opened at $13.77 on Thursday. The stock’s 50 day moving average price is $11.73 and its two-hundred day moving average price is $11.08. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of -19.67 and a beta of 1.15. Roivant Sciences has a 12-month low of $8.73 and a 12-month high of $13.82.

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.