Arizona State Retirement System Purchases 24,333 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Arizona State Retirement System grew its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 31.5% in the second quarter, HoldingsChannel.com reports. The fund owned 101,661 shares of the company’s stock after buying an additional 24,333 shares during the period. Arizona State Retirement System’s holdings in Roivant Sciences were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new position in Roivant Sciences during the second quarter worth about $34,000. DNB Asset Management AS lifted its position in shares of Roivant Sciences by 6.4% in the second quarter. DNB Asset Management AS now owns 56,022 shares of the company’s stock valued at $592,000 after buying an additional 3,386 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Roivant Sciences by 26.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company’s stock worth $210,000 after acquiring an additional 3,955 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of Roivant Sciences by 35.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock worth $193,000 after acquiring an additional 4,458 shares during the last quarter. Finally, Covestor Ltd lifted its holdings 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 purchasing an additional 4,684 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROIV has been the topic of several research reports. Piper Sandler upped their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America increased their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.15.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $11.94 on Friday. The firm has a market cap of $8.83 billion, a PE ratio of 2.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The stock’s fifty day moving average price is $11.34 and its two-hundred day moving average price is $11.04. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping 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 company had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. During the same quarter last year, the business earned ($0.38) earnings per share. Roivant Sciences’s revenue was up 155.1% on a year-over-year basis. As a group, research analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

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.