Roivant Sciences (NASDAQ:ROIV) Shares Down 3.6%

Roivant Sciences Ltd. (NASDAQ:ROIV)’s stock price fell 3.6% during mid-day trading on Tuesday . The company traded as low as $11.45 and last traded at $11.47. 3,911,579 shares were traded during trading, a decline of 35% from the average session volume of 6,023,591 shares. The stock had previously closed at $11.90.

Analyst Ratings Changes

ROIV has been the subject of several research analyst reports. Piper Sandler increased their price objective on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Bank of America raised their price target on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.39.

Roivant Sciences Price Performance

The firm has a market cap of $8.69 billion, a PE ratio of 2.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The firm has a 50-day simple moving average of $11.47 and a 200 day simple moving average of $11.06.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.33. The company had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. Roivant Sciences’s revenue was up 155.1% on a year-over-year basis. During the same period last year, the company posted ($0.38) EPS. As a group, equities analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Institutional Trading of Roivant Sciences

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in Roivant Sciences during the 2nd quarter valued at approximately $34,000. Point72 Hong Kong Ltd purchased a new position in shares of Roivant Sciences in the 2nd quarter worth about $36,000. Quarry LP bought a new position in Roivant Sciences in the 2nd quarter worth about $53,000. Acadian Asset Management LLC purchased a new stake in Roivant Sciences during the 1st quarter valued at about $72,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Roivant Sciences during the 2nd quarter valued at about $101,000. 64.76% of the stock is owned by institutional investors.

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.