Roivant Sciences Ltd. (NASDAQ:ROIV) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 51.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,860,536 shares of the company’s stock after purchasing an additional 630,712 shares during the period. Clearbridge Investments LLC owned about 0.25% of Roivant Sciences worth $19,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Roivant Sciences in the second quarter valued at about $34,000. Point72 Hong Kong Ltd purchased a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $36,000. Quarry LP acquired a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $53,000. Acadian Asset Management LLC purchased a new stake in Roivant Sciences in the 1st quarter valued at 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROIV has been the topic of several recent research reports. Piper Sandler upped their price objective on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, Bank of America lifted their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.39.

Insider Buying and Selling

In other Roivant Sciences news, Director Keith S. Manchester sold 368,052 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the completion of the sale, the director now owns 1,412,126 shares of the company’s stock, valued at approximately $16,408,904.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Keith S. Manchester sold 368,052 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the transaction, the director now owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,477,309 shares of company stock valued at $40,986,184. 4.60% of the stock is currently owned by company insiders.

Roivant Sciences Trading Up 1.5 %

Shares of ROIV stock opened at $11.38 on Friday. The firm’s 50-day simple moving average is $11.55 and its 200-day simple moving average is $11.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.06. The firm has a market cap of $8.41 billion, a P/E ratio of 2.25 and a beta of 1.24.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The company had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. During the same quarter last year, the firm posted ($0.38) earnings per share. Roivant Sciences’s revenue was up 155.1% on a year-over-year basis. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS 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.