Separately, Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th.

Check Out Our Latest Analysis on ROIV

NASDAQ ROIV opened at $11.45 on Wednesday. The firm has a market capitalization of $7.78 billion, a P/E ratio of -45.80 and a beta of 1.16. The stock’s fifty day moving average is $10.97 and its two-hundred day moving average is $10.94. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.

Roivant Sciences (NASDAQ:ROIV – Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. During the same period in the prior year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts forecast that Roivant Sciences will post -0.92 EPS for the current year.

In related news, major shareholder Vivek Ramaswamy sold 547,430 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $11.34, for a total value of $6,207,856.20. Following the completion of the sale, the insider now directly owns 38,627,181 shares of the company’s stock, valued at $438,032,232.54. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Eric Venker sold 566,278 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total value of $6,353,639.16. Following the completion of the sale, the chief operating officer now owns 1,462,223 shares of the company’s stock, valued at $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,656,667 shares of company stock valued at $29,570,112 over the last 90 days. Corporate insiders own 7.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after acquiring an additional 1,108 shares during the period. Russell Investments Group Ltd. boosted its position in Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock valued at $28,000 after purchasing an additional 1,948 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Roivant Sciences during the 4th quarter worth $39,000. UMB Bank n.a. grew its stake in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after buying an additional 2,195 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after buying an additional 1,905 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.

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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.

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