Platinum Investment Management Ltd. decreased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV – Free Report) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 598,732 shares of the company’s stock after selling 159,843 shares during the period. Platinum Investment Management Ltd. owned about 0.08% of Roivant Sciences worth $6,993,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of ROIV. Bank of New York Mellon Corp boosted its position in shares of Roivant Sciences by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 47,274 shares of the company’s stock valued at $233,000 after buying an additional 4,335 shares during the last quarter. Citigroup Inc. boosted its position in shares of Roivant Sciences by 1,803.6% during the first quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock valued at $28,000 after buying an additional 5,447 shares during the last quarter. BlackRock Inc. boosted its position in shares of Roivant Sciences by 3.0% during the first quarter. BlackRock Inc. now owns 4,044,419 shares of the company’s stock valued at $19,980,000 after buying an additional 117,329 shares during the last quarter. Vanguard Group Inc. boosted its position in Roivant Sciences by 13.8% in the first quarter. Vanguard Group Inc. now owns 1,319,499 shares of the company’s stock worth $6,519,000 after purchasing an additional 159,787 shares during the last quarter. Finally, American International Group Inc. purchased a new position in Roivant Sciences in the first quarter worth $8,965,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.
Roivant Sciences Stock Down 1.5 %
Shares of NASDAQ ROIV opened at $10.35 on Friday. Roivant Sciences Ltd. has a one year low of $6.59 and a one year high of $13.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.84 and a quick ratio of 5.84. The business’s fifty day moving average price is $10.28 and its 200-day moving average price is $10.58. The stock has a market capitalization of $8.32 billion, a PE ratio of -7.84 and a beta of 1.35.
Roivant Sciences (NASDAQ:ROIV – Get Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.02. Roivant Sciences had a negative return on equity of 73.04% and a negative net margin of 951.77%. The company had revenue of $37.10 million for the quarter, compared to analyst estimates of $26.68 million. On average, equities research analysts anticipate that Roivant Sciences Ltd. will post -1.77 EPS for the current year.
Insider Activity at Roivant Sciences
In related news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total transaction of $33,150,000.00. Following the sale, the insider now directly owns 51,929,426 shares in the company, valued at approximately $573,820,157.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.60% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have weighed in on ROIV. Bank of America boosted their price objective on Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and issued a $23.00 price objective on shares of Roivant Sciences in a research report on Tuesday, September 26th. Piper Sandler began coverage on Roivant Sciences in a research report on Friday, January 5th. They issued an “overweight” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Roivant Sciences from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Roivant Sciences in a research report on Tuesday, December 12th. They issued a “buy” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.56.
About Roivant Sciences
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.