AQR Capital Management LLC Lowers Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

AQR Capital Management LLC lowered its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 32.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,934 shares of the company’s stock after selling 96,894 shares during the period. AQR Capital Management LLC’s holdings in Roivant Sciences were worth $2,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Altitude Crest Partners Inc. purchased a new stake in Roivant Sciences in the fourth quarter worth approximately $9,075,000. Beryl Capital Management LLC purchased a new stake in shares of Roivant Sciences in the 4th quarter valued at $2,808,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Roivant Sciences by 1,207.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,410 shares of the company’s stock valued at $742,000 after purchasing an additional 65,025 shares during the last quarter. State of Michigan Retirement System purchased a new position in Roivant Sciences in the 1st quarter worth $853,000. Finally, State of Alaska Department of Revenue bought a new stake in Roivant Sciences in the first quarter worth $389,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Rakhi Kumar sold 250,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Roivant Sciences news, CAO Rakhi Kumar sold 250,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith S. Manchester sold 368,052 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 3,477,309 shares of company stock worth $40,986,184 in the last quarter. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ROIV. Bank of America lifted their price objective on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Piper Sandler boosted 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 restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Roivant Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $17.39.

Roivant Sciences Stock Up 0.6 %

Shares of NASDAQ ROIV opened at $11.28 on Wednesday. The firm has a fifty day simple moving average of $11.57 and a two-hundred day simple moving average of $11.15. Roivant Sciences Ltd. has a 12 month low of $8.24 and a 12 month high of $13.06. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $8.33 billion, a PE ratio of 2.23 and a beta of 1.24.

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