Roivant Sciences (NASDAQ:ROIV) Shares Down 4%

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) fell 4% during trading on Thursday . The company traded as low as $10.37 and last traded at $10.41. 3,304,999 shares traded hands during trading, a decline of 42% from the average session volume of 5,686,605 shares. The stock had previously closed at $10.84.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROIV. Truist Financial reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Roivant Sciences in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on Roivant Sciences in a research note on Tuesday, December 12th. They issued a “buy” rating and a $14.00 target price on the stock. Wolfe Research began coverage on Roivant Sciences in a research report on Thursday, February 15th. They set an “outperform” rating and a $17.00 price objective for the company. Piper Sandler started coverage on Roivant Sciences in a research note on Friday, January 5th. They issued an “overweight” rating and a $20.00 price objective on the stock. Finally, Bank of America lifted their price target on Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Roivant Sciences Stock Performance

The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $8.49 billion, a PE ratio of 2.08 and a beta of 1.37. The company has a 50-day moving average price of $10.74 and a two-hundred day moving average price of $10.38.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. The firm had revenue of $37.14 million during the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. Analysts predict that Roivant Sciences Ltd. will post -1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total value of $33,150,000.00. Following the transaction, the insider now directly owns 51,929,426 shares of the company’s stock, valued at approximately $573,820,157.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total transaction of $33,150,000.00. Following the sale, the insider now owns 51,929,426 shares of the company’s stock, valued at $573,820,157.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Venker sold 96,950 shares of Roivant Sciences stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $10.92, for a total value of $1,058,694.00. Following the transaction, the chief operating officer now owns 532,207 shares of the company’s stock, valued at approximately $5,811,700.44. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Roivant Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in Roivant Sciences by 8.1% in the 3rd quarter. FMR LLC now owns 38,910,625 shares of the company’s stock valued at $454,476,000 after buying an additional 2,913,491 shares during the period. Morgan Stanley raised its holdings in Roivant Sciences by 48.7% during the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock worth $225,560,000 after buying an additional 6,324,915 shares during the period. Rubric Capital Management LP grew its stake in shares of Roivant Sciences by 81.0% in the 4th quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock valued at $213,370,000 after buying an additional 8,500,000 shares in the last quarter. BlackRock Inc. boosted its position in shares of Roivant Sciences by 99.5% in the second quarter. BlackRock Inc. now owns 12,372,873 shares of the company’s stock valued at $124,719,000 after acquiring an additional 6,170,264 shares during the period. Finally, State Street Corp grew its holdings in shares of Roivant Sciences by 18.7% during the second quarter. State Street Corp now owns 9,533,896 shares of the company’s stock worth $96,102,000 after purchasing an additional 1,500,944 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

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.