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

Roivant Sciences Ltd. (NASDAQ:ROIV) gapped up before the market opened on Monday following a stronger than expected earnings report. 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 changing hands.

The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%.

Analyst Ratings Changes

Several brokerages recently issued reports on ROIV. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.93.

Insider Buying and Selling at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $8,260,276.32. This represents a 12.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,942,629 shares of company stock valued at $23,034,486 in the last ninety days. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Roivant Sciences by 57.0% in the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock worth $42,000 after buying an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 in the last quarter. Victory Capital Management Inc. raised its holdings in Roivant Sciences by 6.1% in the fourth quarter. Victory Capital Management Inc. now owns 27,494 shares of the company’s stock valued at $325,000 after buying an additional 1,588 shares during the period. Covestor Ltd lifted its position in Roivant Sciences by 9.1% during the third quarter. Covestor Ltd now owns 19,190 shares of the company’s stock valued at $222,000 after buying an additional 1,605 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Roivant Sciences by 16.3% in the fourth quarter. M&T Bank Corp now owns 13,194 shares of the company’s stock worth $156,000 after acquiring an additional 1,851 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

The company’s fifty day moving average is $11.51 and its two-hundred day moving average is $11.60. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 1.91 and a beta of 1.25.

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.