Roivant Sciences (NASDAQ:ROIV) Shares Gap Up – What’s Next?

Roivant Sciences Ltd. (NASDAQ:ROIV)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $28.21, but opened at $29.60. Roivant Sciences shares last traded at $31.7910, with a volume of 2,079,051 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ROIV shares. Piper Sandler increased their price target on Roivant Sciences from $22.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Citigroup upped their price objective on Roivant Sciences from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Guggenheim upped their price objective on Roivant Sciences from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 9th. TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a research report on Wednesday, March 4th. Finally, Sanford C. Bernstein assumed coverage on Roivant Sciences in a research report on Friday, March 20th. They issued an “outperform” rating and a $35.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.55.

Roivant Sciences Trading Up 14.8%

The company has a 50-day simple moving average of $28.38 and a 200 day simple moving average of $24.85. The company has a market cap of $23.19 billion, a P/E ratio of -27.70 and a beta of 1.14.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.54. Roivant Sciences had a negative return on equity of 19.04% and a negative net margin of 6,079.94%.During the same period in the prior year, the firm posted ($0.29) EPS. On average, equities analysts forecast that Roivant Sciences Ltd. will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric Venker sold 200,000 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $29.59, for a total transaction of $5,918,000.00. Following the transaction, the chief executive officer owned 1,647,546 shares of the company’s stock, valued at approximately $48,750,886.14. This represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Melissa B. Epperly sold 41,861 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $28.68, for a total value of $1,200,573.48. Following the transaction, the director directly owned 15,804 shares in the company, valued at $453,258.72. The trade was a 72.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,745,173 shares of company stock worth $103,639,917 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in shares of Roivant Sciences by 1,740.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock worth $27,000 after buying an additional 1,166 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Roivant Sciences by 226.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after buying an additional 1,148 shares in the last quarter. Allworth Financial LP grew its position in shares of Roivant Sciences by 48.1% during the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after buying an additional 583 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Roivant Sciences by 41.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after buying an additional 543 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Roivant Sciences by 33.7% during the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock worth $57,000 after buying an additional 520 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.