Acadian Asset Management LLC Boosts Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Acadian Asset Management LLC raised its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 23.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,510 shares of the company’s stock after purchasing an additional 1,603 shares during the quarter. Acadian Asset Management LLC’s holdings in Roivant Sciences were worth $89,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ROIV. Rubric Capital Management LP increased its position in Roivant Sciences by 81.0% during the 4th quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock worth $213,370,000 after purchasing an additional 8,500,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Roivant Sciences by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock valued at $85,441,000 after acquiring an additional 1,030,681 shares during the period. Norges Bank acquired a new position in shares of Roivant Sciences during the 4th quarter valued at $41,506,000. First Trust Advisors LP boosted its position in Roivant Sciences by 434.8% during the 4th quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock worth $30,764,000 after purchasing an additional 2,227,192 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Roivant Sciences by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock valued at $28,397,000 after purchasing an additional 58,541 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Stock Up 0.4 %

Shares of NASDAQ:ROIV opened at $11.97 on Friday. The firm has a market cap of $8.84 billion, a PE ratio of 2.37 and a beta of 1.25. The company has a fifty day simple moving average of $11.46 and a 200 day simple moving average of $11.06. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last issued 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. The business had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The company’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.38) EPS. On average, equities research analysts anticipate that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROIV. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday. Bank of America boosted their price target on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Thursday. Finally, Piper Sandler boosted their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.39.

Roivant Sciences Company Profile

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.