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

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

Roivant Sciences Stock Down 2.6 %

Shares of Roivant Sciences stock opened at $11.64 on Friday. Roivant Sciences has a fifty-two week low of $8.56 and a fifty-two week high of $13.06. The firm has a market cap of $8.61 billion, a PE ratio of 2.06 and a beta of 1.24. The business’s fifty day moving average is $11.78 and its two-hundred day moving average is $11.31.

Insiders Place Their Bets

In other news, COO Eric Venker sold 100,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the completion of the sale, the chief operating officer now owns 617,470 shares in the company, valued at $7,193,525.50. This represents a 13.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Financial Lp Qvt sold 876,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $11.82, for a total value of $10,354,320.00. Following the transaction, the director now owns 22,179,358 shares in the company, valued at approximately $262,160,011.56. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,577,309 shares of company stock worth $42,151,184 in the last 90 days. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roivant Sciences

A number of large investors have recently bought and sold shares of ROIV. nVerses Capital LLC bought a new position in shares of Roivant Sciences during the second quarter worth approximately $34,000. Gladius Capital Management LP bought a new stake in Roivant Sciences during the 3rd quarter worth approximately $35,000. Point72 Hong Kong Ltd acquired a new stake in shares of Roivant Sciences during the second quarter worth $36,000. US Bancorp DE grew its position in shares of 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 buying an additional 1,948 shares during the period. Finally, Quarry LP acquired a new stake in shares of Roivant Sciences in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ROIV. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, Bank of America boosted their target price on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.