Roivant Sciences (NASDAQ:ROIV) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Roivant Sciences (NASDAQ:ROIV) issued its earnings results on Monday. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.13), Zacks reports. Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%.

Roivant Sciences Stock Up 1.0%

ROIV traded up $0.21 during trading on Monday, reaching $20.83. The stock had a trading volume of 1,269,672 shares, compared to its average volume of 6,443,045. The stock has a 50 day moving average of $16.16 and a two-hundred day moving average of $13.02. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of -29.72 and a beta of 1.23. Roivant Sciences has a 1-year low of $8.73 and a 1-year high of $20.77.

Insider Activity at Roivant Sciences

In other news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $20.22, for a total value of $4,044,000.00. Following the completion of the sale, the chief executive officer owned 1,504,959 shares in the company, valued at $30,430,270.98. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 5,428,958 shares of company stock valued at $80,491,638. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in shares of Roivant Sciences by 204.2% in the second quarter. Osaic Holdings Inc. now owns 5,783 shares of the company’s stock valued at $65,000 after purchasing an additional 3,882 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in Roivant Sciences during the second quarter valued at $117,000. Russell Investments Group Ltd. lifted its stake in Roivant Sciences by 149.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company’s stock worth $129,000 after acquiring an additional 6,879 shares in the last quarter. M&T Bank Corp lifted its stake in Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock worth $144,000 after acquiring an additional 1,181 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Roivant Sciences during the 2nd quarter worth about $159,000. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ROIV shares. Guggenheim increased their price target on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. The Goldman Sachs Group increased their target price on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Bank of America upped their price target on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.06.

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.