Roivant Sciences Target of Unusually Large Options Trading (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) was the target of unusually large options trading on Tuesday. Stock investors purchased 5,202 call options on the stock. This is an increase of 128% compared to the typical daily volume of 2,278 call options.

Institutional Trading of Roivant Sciences

Large investors have recently made changes to their positions in the company. Rubric Capital Management LP grew its holdings in Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after buying an additional 3,000,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Roivant Sciences by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock valued at $85,441,000 after acquiring an additional 1,030,681 shares during the last quarter. DME Capital Management LP grew its stake in Roivant Sciences by 14.8% during the 2nd quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock worth $50,852,000 after buying an additional 620,470 shares during the last quarter. Norges Bank acquired a new stake in Roivant Sciences during the 4th quarter worth approximately $41,506,000. Finally, BlackBarn Capital Partners LP lifted its holdings in shares of Roivant Sciences by 63.1% in the 2nd quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after buying an additional 1,199,406 shares during the period. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ROIV shares. Piper Sandler increased their price target on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America upped their price objective on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. One investment 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, Roivant Sciences currently has an average rating of “Moderate Buy” and an average target price of $17.39.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV traded down $0.37 during trading on Tuesday, hitting $11.53. The stock had a trading volume of 4,165,508 shares, compared to its average volume of 6,023,591. Roivant Sciences has a 12-month low of $8.24 and a 12-month high of $13.24. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 2.35 and a beta of 1.25. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $11.06.

Roivant Sciences (NASDAQ:ROIV) last announced 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 the consensus estimate of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. Roivant Sciences’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share. On average, equities research analysts expect that Roivant Sciences will post -1.14 earnings per share for the current fiscal year.

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.