Clearbridge Investments LLC Grows Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Clearbridge Investments LLC grew its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 51.3% during the second quarter, HoldingsChannel reports. The firm owned 1,860,536 shares of the company’s stock after buying an additional 630,712 shares during the period. Clearbridge Investments LLC’s holdings in Roivant Sciences were worth $19,666,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ROIV. nVerses Capital LLC acquired a new stake in Roivant Sciences during the 2nd quarter valued at $34,000. Point72 Hong Kong Ltd purchased a new position in Roivant Sciences in the 2nd quarter valued at about $36,000. Quarry LP acquired a new stake in shares of Roivant Sciences during the second quarter valued at about $53,000. Acadian Asset Management LLC acquired a new stake in shares of Roivant Sciences during the first quarter valued at about $72,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Roivant Sciences during the second quarter worth about $101,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Roivant Sciences

In other news, Director Keith S. Manchester sold 368,052 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the sale, the director now directly owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at $2,488,838.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith S. Manchester sold 368,052 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the transaction, the director now directly owns 1,412,126 shares of the company’s stock, valued at $16,408,904.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,477,309 shares of company stock worth $40,986,184 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ROIV. Piper Sandler increased their price target on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Bank of America lifted their price target 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 reiterated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.39.

Roivant Sciences Stock Performance

Shares of ROIV opened at $11.38 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month high of $13.06. The business’s fifty day moving average price is $11.55 and its 200 day moving average price is $11.12. The stock has a market capitalization of $8.41 billion, a PE ratio of 2.25 and a beta of 1.24.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.33. The business had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The company’s quarterly revenue was up 155.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) EPS. Equities research analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

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.