Integral Health Asset Management LLC Cuts Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Integral Health Asset Management LLC cut its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 33.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 400,000 shares of the company’s stock after selling 200,000 shares during the quarter. Integral Health Asset Management LLC’s holdings in Roivant Sciences were worth $4,228,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ROIV. Rubric Capital Management LP raised its position in Roivant Sciences by 81.0% in the fourth quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock valued at $213,370,000 after purchasing an additional 8,500,000 shares during the period. Norges Bank purchased a new position in Roivant Sciences in the fourth quarter valued at about $41,506,000. First Trust Advisors LP raised its position in Roivant Sciences by 434.8% in the fourth quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock valued at $30,764,000 after purchasing an additional 2,227,192 shares during the period. BlackBarn Capital Partners LP purchased a new stake in shares of Roivant Sciences during the fourth quarter worth about $17,406,000. Finally, Tyro Capital Management LLC purchased a new stake in shares of Roivant Sciences during the fourth quarter worth about $15,115,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $11.97 on Monday. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $11.46 and a two-hundred day moving average of $11.05. Roivant Sciences Ltd. has a 52 week low of $8.24 and a 52 week high of $13.24. The company has a market cap of $8.84 billion, a P/E ratio of 2.37 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $30.72 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. Roivant Sciences’s quarterly revenue was up 155.1% compared to the same quarter last year. As a group, analysts anticipate that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

ROIV has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Thursday. Bank of America lifted their target price on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler lifted their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.39.

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.