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

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 62.02% from the stock’s current price.

Separately, Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th.

Roivant Sciences Stock Up 0.3%

ROIV stock opened at $11.11 on Wednesday. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $13.06. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -44.44 and a beta of 1.16. The firm’s fifty day simple moving average is $10.87 and its two-hundred day simple moving average is $10.95.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. As a group, equities research analysts expect that Roivant Sciences will post -0.92 EPS for the current year.

Insider Activity

In other Roivant Sciences news, COO Eric Venker sold 434,478 shares of Roivant Sciences stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.82, for a total transaction of $4,701,051.96. Following the sale, the chief operating officer now owns 1,127,290 shares of the company’s stock, valued at $12,197,277.80. The trade was a 27.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $11.47, for a total value of $3,142,309.73. Following the completion of the sale, the insider now owns 39,799,611 shares of the company’s stock, valued at $456,501,538.17. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,972,189 shares of company stock worth $33,059,785 over the last 90 days. 7.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

Several institutional investors have recently made changes to their positions in ROIV. New York State Teachers Retirement System lifted its position in shares of Roivant Sciences by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 254,220 shares of the company’s stock worth $3,007,000 after purchasing an additional 4,959 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Roivant Sciences by 10.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 185,602 shares of the company’s stock valued at $2,196,000 after purchasing an additional 17,217 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Roivant Sciences during the 4th quarter worth $143,000. New York State Common Retirement Fund boosted its position in shares of Roivant Sciences by 15.2% during the 4th quarter. New York State Common Retirement Fund now owns 219,793 shares of the company’s stock worth $2,600,000 after acquiring an additional 29,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Roivant Sciences by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,439,540 shares of the company’s stock valued at $40,690,000 after purchasing an additional 510,398 shares in the last quarter. Hedge funds and other institutional investors 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.