HC Wainwright Reiterates Buy Rating for Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 71.02% from the stock’s current price.

Separately, Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.93.

Roivant Sciences Stock Down 2.5 %

ROIV traded down $0.27 during trading on Tuesday, hitting $10.53. 2,308,625 shares of the company’s stock were exchanged, compared to its average volume of 4,178,285. The stock has a market cap of $7.66 billion, a P/E ratio of 1.87 and a beta of 1.25. The business’s 50 day moving average is $11.51 and its two-hundred day moving average is $11.60. Roivant Sciences has a fifty-two week low of $9.76 and a fifty-two week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.65% and a net margin of 3,827.42%. On average, sell-side analysts forecast that Roivant Sciences will post -1.19 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $11.28, for a total value of $1,128,000.00. Following the sale, the chief operating officer now directly owns 732,294 shares of the company’s stock, valued at approximately $8,260,276.32. This represents a 12.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the acquisition, the director now owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 1,942,629 shares of company stock worth $23,034,486 in the last ninety days. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Roivant Sciences

Hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in shares of Roivant Sciences during the third quarter valued at about $35,000. US Bancorp DE raised its stake in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock valued at $38,000 after buying an additional 1,948 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Roivant Sciences by 57.0% in the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after acquiring an additional 1,288 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock worth $84,000 after acquiring an additional 1,507 shares during the last quarter. Finally, Quarry LP grew its holdings in Roivant Sciences by 50.0% during the third quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $87,000 after purchasing an additional 2,500 shares during the period. 64.76% of the stock is owned by 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.