Point72 Asset Management L.P. Buys 185,226 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Point72 Asset Management L.P. boosted its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 40.1% in the 2nd quarter, Holdings Channel reports. The firm owned 647,126 shares of the company’s stock after acquiring an additional 185,226 shares during the quarter. Point72 Asset Management L.P.’s holdings in Roivant Sciences were worth $6,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ROIV. Quarry LP purchased a new stake in shares of Roivant Sciences in the second quarter worth about $53,000. DME Capital Management LP increased its holdings in Roivant Sciences by 14.8% during the 2nd quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock worth $50,852,000 after acquiring an additional 620,470 shares during the period. Troluce Capital Advisors LLC purchased a new stake in Roivant Sciences in the 2nd quarter worth approximately $31,182,000. Point72 Hong Kong Ltd bought a new position in Roivant Sciences in the 2nd quarter valued at $36,000. Finally, Squarepoint Ops LLC grew its position in shares of Roivant Sciences by 14.7% during the 2nd quarter. Squarepoint Ops LLC now owns 47,579 shares of the company’s stock valued at $503,000 after purchasing an additional 6,091 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $11.37 on Wednesday. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 2.25 and a beta of 1.25. The business has a 50 day moving average of $11.51 and a 200 day moving average of $11.10. 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 1-year low of $8.24 and a 1-year high of $13.06.

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, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $30.72 million. During the same period in the previous year, the business posted ($0.38) EPS. The business’s quarterly revenue was up 155.1% on a year-over-year basis. On average, sell-side analysts predict that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ROIV. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Thursday, September 19th. Bank of America lifted their price target on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, Piper Sandler raised their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.39.

Insider Buying and Selling at Roivant Sciences

In other news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the transaction, the chief accounting officer now owns 209,322 shares in the company, valued at $2,488,838.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 $2,488,838.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the transaction, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. 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 three months. Company insiders own 4.60% of the company’s stock.

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.