Rhumbline Advisers Sells 70,856 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Rhumbline Advisers decreased its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,493 shares of the company’s stock after selling 70,856 shares during the quarter. Rhumbline Advisers owned 0.12% of Roivant Sciences worth $9,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Rubric Capital Management LP increased its stake in Roivant Sciences by 81.0% in 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. increased its stake in Roivant Sciences by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock worth $85,441,000 after purchasing an additional 1,030,681 shares during the period. Norges Bank purchased a new position in Roivant Sciences in the 4th quarter worth approximately $41,506,000. First Trust Advisors LP increased its stake 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 worth $30,764,000 after purchasing an additional 2,227,192 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Roivant Sciences by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock worth $28,397,000 after purchasing an additional 58,541 shares during the period. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Price Performance

Shares of ROIV stock opened at $12.12 on Friday. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 2.40 and a beta of 1.25. The business’s fifty day moving average is $11.31 and its 200 day moving average is $11.04. Roivant Sciences Ltd. has a twelve month low of $8.24 and a twelve month high of $13.24. 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 (NASDAQ:ROIV) last released its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.72 million. During the same period in the previous year, the company posted ($0.38) earnings per share. The company’s revenue for the quarter was up 155.1% compared to the same quarter last year. Research analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

ROIV has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Monday. 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 research note on Wednesday. Finally, Piper Sandler boosted their target price on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.15.

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.