Investors Purchase Large Volume of Call Options on Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 5,202 call options on the company. This represents an increase of 128% compared to the typical volume of 2,278 call options.

Roivant Sciences Trading Up 0.7 %

Shares of ROIV stock opened at $11.77 on Thursday. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. Roivant Sciences has a 12-month low of $8.24 and a 12-month high of $13.24. The stock has a market capitalization of $8.69 billion, a P/E ratio of 2.33 and a beta of 1.25. The firm’s 50 day moving average is $11.48 and its 200 day moving average is $11.07.

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

Insider Transactions at Roivant Sciences

In related news, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the transaction, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the transaction, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the sale, the chief executive officer now directly owns 17,870,543 shares in the company, valued at approximately $210,693,701.97. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Texas Permanent School Fund Corp bought a new position in Roivant Sciences in the 1st quarter worth $3,115,000. American International Group Inc. grew its stake in shares of Roivant Sciences by 7,589.5% during the 1st quarter. American International Group Inc. now owns 450,065 shares of the company’s stock valued at $4,744,000 after acquiring an additional 444,212 shares during the period. Nordea Investment Management AB purchased a new stake in Roivant Sciences in the 1st quarter worth approximately $2,851,000. Magnetar Financial LLC purchased a new position in Roivant Sciences during the first quarter valued at approximately $1,576,000. Finally, Mutual of America Capital Management LLC lifted its holdings in Roivant Sciences by 116.8% during the first quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock valued at $3,435,000 after purchasing an additional 175,574 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

ROIV has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Thursday, September 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Bank of America raised their price target on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, Piper Sandler raised their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.39.

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.