Roivant Sciences (NASDAQ:ROIV) Shares Gap Up After Better-Than-Expected Earnings

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $10.89, but opened at $11.41. Roivant Sciences shares last traded at $10.99, with a volume of 577,463 shares.

The company reported ($0.20) EPS for the quarter, beating the consensus estimate 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%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $17.93.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total value of $1,132,000.00. Following the completion of the transaction, the chief operating officer now directly owns 606,525 shares of the company’s stock, valued at $6,865,863. This trade represents a 14.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the transaction, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 1,942,629 shares of company stock valued at $23,034,486. 7.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Roivant Sciences Price Performance

The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 1.91 and a beta of 1.25. The business has a fifty day moving average price of $11.51 and a two-hundred day moving average price of $11.60.

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.