Roivant Sciences Sees Unusually High Options Volume (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) saw some unusual options trading on Friday. Traders purchased 32,948 call options on the stock. This represents an increase of approximately 1,371% compared to the typical daily volume of 2,240 call options.

Roivant Sciences Stock Up 2.4 %

Shares of NASDAQ:ROIV traded up $0.26 during midday trading on Friday, reaching $11.15. The company’s stock had a trading volume of 3,991,029 shares, compared to its average volume of 4,830,982. The stock has a fifty day moving average of $11.80 and a 200 day moving average of $11.58. Roivant Sciences has a twelve month low of $9.69 and a twelve month high of $13.06. The firm has a market capitalization of $8.12 billion, a PE ratio of 1.97 and a beta of 1.27.

Wall Street Analyst Weigh In

ROIV has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Roivant Sciences currently has an average rating of “Moderate Buy” and an average price target of $17.93.

Insider Buying and Selling at Roivant Sciences

In other news, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the business’s stock in a transaction on Monday, January 13th. The shares were acquired at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the completion of the acquisition, the director now owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. This trade represents a 21.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Eric Venker sold 100,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $11.65, for a total value of $1,165,000.00. Following the sale, the chief operating officer now owns 617,470 shares of the company’s stock, valued at approximately $7,193,525.50. This represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,942,629 shares of company stock worth $23,071,486 over the last quarter. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors have recently modified their holdings of ROIV. Acadian Asset Management LLC boosted its stake in shares of Roivant Sciences by 23.2% in the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock worth $89,000 after buying an additional 1,603 shares during the last quarter. American Century Companies Inc. lifted its holdings in Roivant Sciences by 26.5% in the second quarter. American Century Companies Inc. now owns 81,422 shares of the company’s stock valued at $861,000 after acquiring an additional 17,074 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Roivant Sciences in the 2nd quarter worth approximately $2,671,000. Mutual of America Capital Management LLC grew its stake in shares of Roivant Sciences by 0.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock worth $3,457,000 after purchasing an additional 1,142 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in shares of Roivant Sciences by 24.2% during the 2nd quarter. E Fund Management Co. Ltd. now owns 50,381 shares of the company’s stock valued at $533,000 after purchasing an additional 9,805 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.