Roivant Sciences Ltd. (NASDAQ:ROIV) Short Interest Update

Roivant Sciences Ltd. (NASDAQ:ROIV) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 45,130,000 shares, an increase of 45.9% from the March 31st total of 30,930,000 shares. Approximately 8.2% of the shares of the company are sold short. Based on an average daily volume of 7,280,000 shares, the short-interest ratio is presently 6.2 days.

Insider Buying and Selling

In related news, COO Eric Venker sold 96,950 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the sale, the chief operating officer now owns 532,207 shares in the company, valued at approximately $5,811,700.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in Roivant Sciences during the 4th quarter valued at about $33,000. Headlands Technologies LLC purchased a new position in Roivant Sciences during the 4th quarter valued at about $36,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Roivant Sciences during the third quarter worth about $44,000. Covestor Ltd grew its holdings in shares of Roivant Sciences by 165,040.0% during the third quarter. Covestor Ltd now owns 8,257 shares of the company’s stock worth $96,000 after buying an additional 8,252 shares in the last quarter. Finally, Premier Path Wealth Partners LLC purchased a new stake in shares of Roivant Sciences during the first quarter worth about $126,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROIV has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 2nd. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial restated a “buy” rating and issued a $23.00 target price on shares of Roivant Sciences in a research note on Monday, March 25th. Finally, TheStreet upgraded shares of Roivant Sciences from a “d” rating to a “c+” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.90.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV traded up $0.15 during midday trading on Friday, hitting $11.03. The company had a trading volume of 3,109,700 shares, compared to its average volume of 6,612,257. The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06. Roivant Sciences has a twelve month low of $8.06 and a twelve month high of $13.24. The business has a 50-day simple moving average of $10.92 and a two-hundred day simple moving average of $10.37. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 2.12 and a beta of 1.34.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The firm had revenue of $37.14 million during the quarter, compared to the consensus estimate of $30.72 million. Equities research analysts anticipate that Roivant Sciences will post -1.36 earnings per share for the current year.

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.