State of New Jersey Common Pension Fund D Sells 64,968 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

State of New Jersey Common Pension Fund D decreased its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 27.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,332 shares of the company’s stock after selling 64,968 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Roivant Sciences were worth $1,832,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Roivant Sciences in the 2nd quarter valued at about $34,000. Acadian Asset Management LLC bought a new position in Roivant Sciences during the first quarter worth about $72,000. Fifth Third Wealth Advisors LLC bought a new position in Roivant Sciences during the second quarter worth about $101,000. ORG Partners LLC bought a new position in Roivant Sciences during the second quarter worth about $106,000. Finally, Capstone Investment Advisors LLC bought a new position in Roivant Sciences during the fourth quarter worth about $170,000. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Trading Down 0.6 %

Shares of ROIV stock opened at $11.90 on Tuesday. The company has a quick ratio of 27.91, a current 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. The firm has a 50 day moving average price of $11.47 and a two-hundred day moving average price of $11.06. The company has a market capitalization of $8.79 billion, a PE ratio of 2.35 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly 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 net margin of 2,991.75% and a negative return on equity of 17.23%. The company had revenue of $55.10 million during the quarter, compared to the consensus estimate of $30.72 million. During the same period in the previous year, the business earned ($0.38) earnings per share. The firm’s quarterly revenue was up 155.1% on a year-over-year basis. As a group, analysts predict that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ROIV shares. Piper Sandler lifted their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock 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, September 19th. Bank of America lifted their price target on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.39.

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.