State of New Jersey Common Pension Fund D Has $1.83 Million Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

State of New Jersey Common Pension Fund D reduced its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 27.3% in the 2nd quarter, Holdings Channel reports. The firm owned 173,332 shares of the company’s stock after selling 64,968 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Roivant Sciences were worth $1,832,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Roivant Sciences during the second quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new stake in shares of Roivant Sciences during the first quarter worth $72,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Roivant Sciences during the second quarter worth $101,000. ORG Partners LLC bought a new stake in shares of Roivant Sciences during the second quarter worth $106,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Roivant Sciences in the fourth quarter worth $170,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Stock Performance

Shares of ROIV opened at $11.90 on Tuesday. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $8.79 billion, a P/E ratio of 2.35 and a beta of 1.25. The firm’s fifty day simple moving average is $11.47 and its two-hundred day simple moving average is $11.06. Roivant Sciences Ltd. has a 12 month low of $8.24 and a 12 month high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.33. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The firm had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. During the same quarter in the prior year, the business earned ($0.38) earnings per share. The business’s quarterly revenue was up 155.1% compared to the same quarter last year. As a group, analysts predict that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

ROIV has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Piper Sandler boosted their price objective 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. Bank of America boosted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Roivant Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $17.39.

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.