E Fund Management Co. Ltd. Raises Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

E Fund Management Co. Ltd. grew its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 24.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,381 shares of the company’s stock after acquiring an additional 9,805 shares during the period. E Fund Management Co. Ltd.’s holdings in Roivant Sciences were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Rubric Capital Management LP increased its stake 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 buying an additional 8,500,000 shares during the period. Vanguard Group Inc. increased its stake in Roivant Sciences by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock worth $85,441,000 after buying an additional 1,030,681 shares during the period. Norges Bank purchased a new stake in Roivant Sciences during the 4th quarter worth $41,506,000. First Trust Advisors LP increased its stake 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 buying an additional 2,227,192 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Roivant Sciences by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock worth $28,397,000 after buying an additional 58,541 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Price Performance

Shares of ROIV stock opened at $12.00 on Thursday. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.24. The firm has a fifty day moving average of $11.43 and a two-hundred day moving average of $11.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The firm has a market cap of $8.86 billion, a P/E ratio of 2.37 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate 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 business had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. During the same period in the previous year, the business posted ($0.38) EPS. The company’s quarterly revenue was up 155.1% on a year-over-year basis. As a group, research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ROIV. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, September 11th. 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 research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Monday, September 9th. Finally, Piper Sandler raised their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.