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

Roivant Sciences Ltd. (NASDAQ:ROIV) was the target of unusually large options trading on Tuesday. Stock investors acquired 7,491 call options on the company. This represents an increase of approximately 421% compared to the typical daily volume of 1,438 call options.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV traded up $6.76 during midday trading on Tuesday, reaching $41.69. 11,196,290 shares of the company’s stock traded hands, compared to its average volume of 6,163,936. Roivant Sciences has a 1 year low of $12.90 and a 1 year high of $42.09. The company has a market cap of $30.11 billion, a P/E ratio of -79.15 and a beta of 1.12. The company has a fifty day simple moving average of $35.30 and a two-hundred day simple moving average of $31.26.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. As a group, research analysts forecast that Roivant Sciences will post -2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $53,489,169.08. The trade was a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Gold sold 800,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $34.55, for a total value of $27,640,000.00. Following the completion of the transaction, the director directly owned 13,701,546 shares of the company’s stock, valued at $473,388,414.30. This represents a 5.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,055,913 shares of company stock valued at $107,261,258 in the last 90 days. Corporate insiders own 8.80% of the company’s stock.

Institutional Trading of Roivant Sciences

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Roivant Sciences in the first quarter valued at approximately $3,957,000. Bank of America Corp DE raised its stake in Roivant Sciences by 8.0% during the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock worth $87,638,000 after purchasing an additional 235,493 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Roivant Sciences in the 4th quarter valued at $1,029,000. Nicholas Investment Partners LP grew its stake in shares of Roivant Sciences by 13.9% during the 4th quarter. Nicholas Investment Partners LP now owns 279,856 shares of the company’s stock valued at $6,073,000 after buying an additional 34,235 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Roivant Sciences during the 4th quarter worth $76,272,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $41.00 price target on shares of Roivant Sciences in a research report on Friday, August 28th. Leerink Partners set a $42.00 target price on Roivant Sciences in a research report on Thursday, May 21st. Citigroup raised their price objective on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Bank of America reaffirmed a “neutral” rating on shares of Roivant Sciences in a research note on Friday, July 31st. Finally, Guggenheim boosted their target price on shares of Roivant Sciences from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.14.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.