Roivant Sciences (NASDAQ:ROIV) Trading Down 3.6%

Roivant Sciences Ltd. (NASDAQ:ROIV)’s stock price was down 3.6% during mid-day trading on Tuesday . The company traded as low as $11.45 and last traded at $11.47. Approximately 3,911,579 shares were traded during trading, a decline of 35% from the average daily volume of 6,023,591 shares. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Thursday, September 19th. Bank of America boosted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Piper Sandler raised their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.39.

Roivant Sciences Price Performance

The firm has a 50 day moving average price of $11.47 and a 200 day moving average price of $11.06. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $8.69 billion, a PE ratio of 2.35 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The company had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. During the same quarter last year, the business earned ($0.38) EPS. The firm’s revenue was up 155.1% compared to the same quarter last year. Research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP grew its holdings in Roivant Sciences by 15.0% during the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after buying an additional 3,000,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Roivant Sciences by 14.6% during the first quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock valued at $85,441,000 after acquiring an additional 1,030,681 shares in the last quarter. DME Capital Management LP increased its holdings in Roivant Sciences by 14.8% in the 2nd quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock valued at $50,852,000 after acquiring an additional 620,470 shares during the last quarter. Norges Bank purchased a new stake in Roivant Sciences in the 4th quarter worth $41,506,000. Finally, BlackBarn Capital Partners LP boosted its holdings in shares of Roivant Sciences by 63.1% during the 2nd quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after purchasing an additional 1,199,406 shares during the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

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.