Traders Buy Large Volume of Call Options on Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) was the recipient of some unusual options trading on Friday. Traders bought 32,948 call options on the company. This represents an increase of 1,371% compared to the typical daily volume of 2,240 call options.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded up $0.26 during trading on Friday, hitting $11.15. 3,991,029 shares of the company were exchanged, compared to its average volume of 4,830,982. Roivant Sciences has a 12-month low of $9.69 and a 12-month high of $13.06. The company has a fifty day moving average price of $11.80 and a 200-day moving average price of $11.58. The firm has a market capitalization of $8.12 billion, a PE ratio of 1.97 and a beta of 1.27.

Insider Activity

In other Roivant Sciences news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the transaction, the director now directly owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Eric Venker sold 177,704 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $11.54, for a total transaction of $2,050,704.16. Following the completion of the sale, the chief operating officer now directly owns 740,976 shares of the company’s stock, valued at approximately $8,550,863.04. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,942,629 shares of company stock worth $23,071,486 in the last ninety days. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently bought and sold shares of ROIV. Gladius Capital Management LP purchased a new stake in shares of Roivant Sciences during the 3rd quarter valued at approximately $35,000. US Bancorp DE increased its stake in Roivant Sciences by 146.5% during the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after acquiring an additional 1,948 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Roivant Sciences during the 2nd quarter worth about $36,000. GAMMA Investing LLC raised its holdings in Roivant Sciences by 57.0% in the 4th 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 period. Finally, Quarry LP acquired a new position in Roivant Sciences in the second quarter valued at about $53,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROIV has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.93.

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.