Integral Health Asset Management LLC Cuts Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Integral Health Asset Management LLC trimmed its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 33.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company’s stock after selling 200,000 shares during the period. Integral Health Asset Management LLC owned about 0.05% of Roivant Sciences worth $4,228,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ROIV. Rubric Capital Management LP increased its stake in Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after purchasing an additional 3,000,000 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 1,030,681 shares in the last quarter. Norges Bank purchased a new position in Roivant Sciences in the 4th quarter valued at approximately $41,506,000. First Trust Advisors LP increased its stake in Roivant Sciences by 434.8% in the 4th quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock valued at $30,764,000 after purchasing an additional 2,227,192 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Roivant Sciences Price Performance

ROIV stock opened at $11.97 on Monday. Roivant Sciences Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 2.37 and a beta of 1.25. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $11.46 and its 200-day simple moving average is $11.05.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The firm had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. During the same quarter last year, the firm earned ($0.38) earnings per share. The firm’s revenue for the quarter was up 155.1% compared to the same quarter last year. Equities research analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Roivant Sciences 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.