Roivant Sciences (NASDAQ:ROIV) Releases Earnings Results, Misses Estimates By $0.10 EPS

Roivant Sciences (NASDAQ:ROIV) announced its quarterly earnings data on Tuesday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10), reports. The business had revenue of $4.48 million during the quarter, compared to analysts’ expectations of $34.57 million. Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%.

Roivant Sciences Price Performance

NASDAQ:ROIV opened at $11.64 on Friday. The firm has a 50-day moving average of $11.78 and a two-hundred day moving average of $11.31. Roivant Sciences has a 1-year low of $8.56 and a 1-year high of $13.06. The stock has a market cap of $8.61 billion, a P/E ratio of 2.06 and a beta of 1.24.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $23,382,600.03. Following the sale, the chief executive officer now owns 17,870,543 shares of the company’s stock, valued at $210,693,701.97. This trade represents a 9.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith S. Manchester sold 368,052 shares of Roivant Sciences stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the sale, the director now owns 1,412,126 shares in the company, valued at $16,408,904.12. This represents a 20.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,577,309 shares of company stock worth $42,151,184. 7.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of Roivant Sciences in the 2nd quarter valued at $34,000. Gladius Capital Management LP bought a new stake in shares of Roivant Sciences in the 3rd quarter valued at about $35,000. Point72 Hong Kong Ltd bought a new position in Roivant Sciences during the second quarter worth $36,000. US Bancorp DE lifted its holdings in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Quarry LP bought a new position in Roivant Sciences during the second quarter worth about $53,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

ROIV has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday. Bank of America lifted their target price on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.69.

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.