Algert Global LLC Sells 102,329 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Algert Global LLC cut its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 68.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,331 shares of the company’s stock after selling 102,329 shares during the quarter. Algert Global LLC’s holdings in Roivant Sciences were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Roivant Sciences during the second quarter valued at $34,000. Point72 Hong Kong Ltd purchased a new position in Roivant Sciences during the 2nd quarter valued at about $36,000. Acadian Asset Management LLC purchased a new position in Roivant Sciences during the 1st quarter valued at about $72,000. Fifth Third Wealth Advisors LLC bought a new stake in Roivant Sciences during the second quarter worth about $101,000. Finally, ORG Partners LLC purchased a new stake in Roivant Sciences in the second quarter worth about $106,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Price Performance

ROIV stock opened at $11.21 on Tuesday. The company has a market capitalization of $8.28 billion, a PE ratio of 2.22 and a beta of 1.24. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The company’s fifty day moving average price is $11.56 and its 200-day moving average price is $11.14.

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

Insider Buying and Selling

In other Roivant Sciences news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences 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 sale, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the transaction, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 3,477,309 shares of company stock valued at $40,986,184 over the last quarter. 4.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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