Allspring Global Investments Holdings LLC Increases Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Allspring Global Investments Holdings LLC lifted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 85.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,631 shares of the company’s stock after buying an additional 60,221 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Roivant Sciences were worth $1,381,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. DNB Asset Management AS boosted its stake in Roivant Sciences by 6.4% during the second quarter. DNB Asset Management AS now owns 56,022 shares of the company’s stock worth $592,000 after acquiring an additional 3,386 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Roivant Sciences by 26.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company’s stock worth $210,000 after purchasing an additional 3,955 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Roivant Sciences by 35.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock worth $193,000 after buying an additional 4,458 shares during the last quarter. Covestor Ltd increased its position in Roivant Sciences by 22.9% during the 1st quarter. Covestor Ltd now owns 25,178 shares of the company’s stock valued at $265,000 after buying an additional 4,684 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Roivant Sciences by 9.9% during the first quarter. ProShare Advisors LLC now owns 56,474 shares of the company’s stock valued at $595,000 after buying an additional 5,108 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ROIV. Piper Sandler increased their target price on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Monday, August 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.10.

Roivant Sciences Price Performance

ROIV opened at $11.77 on Wednesday. The company’s 50-day simple moving average is $11.12 and its two-hundred day simple moving average is $11.00. 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 stock has a market capitalization of $8.69 billion, a P/E ratio of 2.33 and a beta of 1.24. Roivant Sciences Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million for 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 quarter last year, the company posted ($0.38) earnings per share. As a group, analysts predict that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

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.