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

Roivant Sciences Ltd. (NASDAQ:ROIV) saw unusually large options trading activity on Wednesday. Investors acquired 18,439 call options on the company. This is an increase of 820% compared to the average daily volume of 2,004 call options.

Roivant Sciences Stock Up 1.1 %

Shares of ROIV traded up $0.12 during midday trading on Wednesday, hitting $11.48. The stock had a trading volume of 2,752,223 shares, compared to its average volume of 5,799,323. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 2.26 and a beta of 1.24. The company has a 50 day simple moving average of $10.81 and a two-hundred day simple moving average of $10.88. Roivant Sciences has a twelve month low of $8.24 and a twelve month high of $13.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 25.24 and a quick ratio of 25.24.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 25.05% and a net margin of 3,484.86%. The business had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. During the same quarter last year, the firm earned ($0.38) EPS. Roivant Sciences’s revenue for the quarter was up 155.1% compared to the same quarter last year. On average, analysts anticipate that Roivant Sciences will post -1.12 EPS for the current year.

Institutional Trading of Roivant Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in Roivant Sciences in the second quarter valued at approximately $34,000. Headlands Technologies LLC bought a new stake in Roivant Sciences in the fourth quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Roivant Sciences by 42.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company’s stock worth $60,000 after acquiring an additional 1,608 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Roivant Sciences during the 1st quarter worth approximately $72,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Roivant Sciences during the 2nd quarter valued at $101,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ROIV. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Friday, May 31st. Piper Sandler lifted their price objective on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $17.10.

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.