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

Roivant Sciences (NASDAQ:ROIV) announced its quarterly earnings results on Tuesday. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10), reports. The firm had revenue of $4.48 million during the quarter, compared to analyst estimates 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 Stock Up 2.7 %

Roivant Sciences stock opened at $11.95 on Thursday. Roivant Sciences has a twelve month low of $8.56 and a twelve month high of $13.06. The stock has a market cap of $8.84 billion, a P/E ratio of 2.12 and a beta of 1.24. The company’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $11.31. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05.

Insider Activity

In other news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the transaction, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rakhi Kumar sold 250,000 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 209,322 shares in the company, valued at approximately $2,488,838.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,577,309 shares of company stock valued at $42,151,184. 7.90% of the stock is owned by insiders.

Institutional Trading of Roivant Sciences

Several large investors have recently bought and sold shares of the business. Rubric Capital Management LP boosted its holdings in shares of 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 acquiring an additional 3,000,000 shares in the last quarter. Troluce Capital Advisors LLC acquired a new position in shares of Roivant Sciences in the second quarter valued at approximately $31,182,000. FMR LLC raised its holdings in Roivant Sciences by 5.6% in the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock valued at $567,134,000 after buying an additional 2,593,910 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Roivant Sciences during the 1st quarter worth approximately $12,962,000. Finally, BlackBarn Capital Partners LP grew its holdings in Roivant Sciences by 63.1% during the 2nd quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock worth $32,767,000 after acquiring an additional 1,199,406 shares during the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROIV has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Bank of America increased their target price on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.