Pictet Asset Management SA Takes $65,000 Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Pictet Asset Management SA purchased a new stake in Roivant Sciences Ltd. (NASDAQ:ROIVGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,090 shares of the company’s stock, valued at approximately $65,000.

Other institutional investors also recently modified their holdings of the company. Eventide Asset Management LLC raised its position in shares of Roivant Sciences by 141.5% in the first quarter. Eventide Asset Management LLC now owns 1,690,300 shares of the company’s stock valued at $8,177,000 after purchasing an additional 990,300 shares during the period. Chicago Capital LLC acquired a new stake in shares of Roivant Sciences in the second quarter worth $3,818,000. Values First Advisors Inc. acquired a new stake in shares of Roivant Sciences in the second quarter worth $58,000. Bank of America Corp DE acquired a new stake in shares of Roivant Sciences in the first quarter worth $399,000. Finally, Jane Street Group LLC acquired a new stake in shares of Roivant Sciences in the first quarter worth $246,000. Institutional investors own 51.44% of the company’s stock.

Roivant Sciences Stock Up 4.5 %

ROIV opened at $5.14 on Friday. Roivant Sciences Ltd. has a fifty-two week low of $2.52 and a fifty-two week high of $16.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.43 and a quick ratio of 7.43. The firm’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.15. The company has a market capitalization of $3.62 billion, a P/E ratio of -3.02 and a beta of 1.89.

Roivant Sciences (NASDAQ:ROIVGet Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). Roivant Sciences had a negative return on equity of 62.36% and a negative net margin of 2,336.55%. The business had revenue of $12.53 million for the quarter, compared to analyst estimates of $6.71 million. On average, analysts anticipate that Roivant Sciences Ltd. will post -1.72 EPS for the current year.

Insider Activity

In other news, COO Eric Venker sold 17,392 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $3.07, for a total value of $53,393.44. Following the sale, the chief operating officer now owns 1,065,772 shares in the company, valued at approximately $3,271,920.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Eric Venker sold 17,392 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $3.07, for a total value of $53,393.44. Following the sale, the chief operating officer now owns 1,065,772 shares in the company, valued at approximately $3,271,920.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Gline sold 21,053 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $3.07, for a total transaction of $64,632.71. Following the completion of the sale, the chief executive officer now owns 1,183,285 shares in the company, valued at approximately $3,632,684.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,733,053 shares of company stock worth $27,151,614. Corporate insiders own 13.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROIV. SVB Leerink raised their price objective on shares of Roivant Sciences from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 15th. JPMorgan Chase & Co. began coverage on shares of Roivant Sciences in a research note on Thursday, October 27th. They issued an “overweight” rating and a $7.00 price objective on the stock. Finally, Citigroup raised their price objective on shares of Roivant Sciences from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.17.

Roivant Sciences Profile

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Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops medicines. The company develops product candidates for the treatment of various therapeutics, including solid tumors, sickle cell diseases, hypophosphatasia, oncologic malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, warm autoimmune hemolytic anemia, thyroid eye diseases, sarcoidosis, and staph aureus bacteremia.

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Institutional Ownership by Quarter for Roivant Sciences (NASDAQ:ROIV)

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