Roivant Sciences Ltd. (NASDAQ:ROIV) Shares Bought by DME Capital Management LP

DME Capital Management LP boosted its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 14.8% in the second quarter, HoldingsChannel reports. The firm owned 4,810,960 shares of the company’s stock after buying an additional 620,470 shares during the period. Roivant Sciences accounts for about 2.5% of DME Capital Management LP’s holdings, making the stock its 12th biggest holding. DME Capital Management LP’s holdings in Roivant Sciences were worth $50,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently 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 $34,000. Point72 Hong Kong Ltd purchased a new position in Roivant Sciences in the second quarter valued at $36,000. Acadian Asset Management LLC purchased a new position in Roivant Sciences in the first quarter valued at $72,000. Fifth Third Wealth Advisors LLC purchased a new position in Roivant Sciences in the second quarter valued at $101,000. Finally, ORG Partners LLC purchased a new position in Roivant Sciences in the second quarter valued at $106,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Stock Up 0.7 %

Shares of NASDAQ ROIV opened at $11.77 on Thursday. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month high of $13.24. The stock has a market cap of $8.69 billion, a PE ratio of 2.33 and a beta of 1.25. 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 company has a 50-day moving average of $11.48 and a 200 day moving average of $11.07.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) 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 company had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $30.72 million. During the same quarter in the prior year, the company earned ($0.38) EPS. Roivant Sciences’s revenue was up 155.1% compared to the same quarter last year. As a group, sell-side analysts predict that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, Piper Sandler boosted their target price 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $17.39.

Insider Activity at Roivant Sciences

In related news, CAO Rakhi Kumar sold 250,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $23,382,600.03. Following the transaction, the chief executive officer now directly owns 17,870,543 shares in the company, valued at approximately $210,693,701.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the transaction, the chief accounting officer now owns 209,322 shares in the company, valued at $2,488,838.58. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.

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.