Skandinaviska Enskilda Banken AB publ Cuts Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Skandinaviska Enskilda Banken AB publ lessened its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 73.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,287 shares of the company’s stock after selling 563,249 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Roivant Sciences were worth $2,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rubric Capital Management LP grew its holdings in shares of 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 purchasing an additional 8,500,000 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 acquiring 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 holdings 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 raised its position in Roivant Sciences by 2.2% in the second 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 during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $11.90 on Tuesday. The company’s 50-day simple moving average is $11.47 and its 200-day simple moving average is $11.06. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.24. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 2.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91.

Roivant Sciences (NASDAQ:ROIV) last issued 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 negative return on equity of 17.23% and a net margin of 2,991.75%. The business 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) EPS. The business’s quarterly revenue was up 155.1% on a year-over-year basis. Equities analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. 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 research note on Wednesday, September 11th. Piper Sandler lifted their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Roivant Sciences presently 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.