Daiwa Securities Group Inc. Has $94,000 Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Daiwa Securities Group Inc. cut its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 18.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,859 shares of the company’s stock after selling 2,010 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Roivant Sciences were worth $94,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Texas Permanent School Fund Corp acquired a new position in Roivant Sciences during the 1st quarter worth about $3,115,000. American International Group Inc. lifted its holdings in Roivant Sciences by 7,589.5% during the 1st quarter. American International Group Inc. now owns 450,065 shares of the company’s stock worth $4,744,000 after buying an additional 444,212 shares during the period. Nordea Investment Management AB acquired a new position in Roivant Sciences during the 1st quarter worth about $2,851,000. Magnetar Financial LLC acquired a new position in Roivant Sciences during the 1st quarter worth about $1,576,000. Finally, Mutual of America Capital Management LLC lifted its holdings in Roivant Sciences by 116.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock worth $3,435,000 after buying an additional 175,574 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ROIV. Bank of America lifted their price objective on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Monday, September 9th. Finally, Piper Sandler lifted their price objective on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report 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.com, Roivant Sciences has an average rating of “Moderate Buy” and an average price target of $17.15.

Roivant Sciences Stock Performance

Shares of ROIV opened at $12.05 on Wednesday. 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 50 day moving average price of $11.42 and a two-hundred day moving average price of $11.04. The firm has a market capitalization of $8.90 billion, a P/E ratio of 2.38 and a beta of 1.25. 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 quarterly earnings data on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. The firm had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The company’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) EPS. Equities analysts forecast that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal 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.