Arizona State Retirement System Buys 12,057 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Arizona State Retirement System grew its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 18.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 77,558 shares of the company’s stock after acquiring an additional 12,057 shares during the period. Arizona State Retirement System’s holdings in Roivant Sciences were worth $871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in shares of Roivant Sciences during the fourth quarter worth about $33,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Roivant Sciences during the third quarter worth about $44,000. Royal Bank of Canada grew its holdings in shares of Roivant Sciences by 2,333.5% during the second quarter. Royal Bank of Canada now owns 4,210 shares of the company’s stock worth $43,000 after purchasing an additional 4,037 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Roivant Sciences by 1,803.6% during the first quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock worth $28,000 after purchasing an additional 5,447 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Roivant Sciences by 165,040.0% during the third quarter. Covestor Ltd now owns 8,257 shares of the company’s stock worth $96,000 after purchasing an additional 8,252 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $10.71 on Wednesday. The firm has a market cap of $8.63 billion, a PE ratio of 2.06 and a beta of 1.34. Roivant Sciences Ltd. has a fifty-two week low of $7.60 and a fifty-two week high of $13.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. The business has a 50 day moving average price of $10.96 and a 200-day moving average price of $10.36.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.07. The firm had revenue of $37.14 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. Equities research analysts predict that Roivant Sciences Ltd. will post -1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ROIV shares. Bank of America boosted their price objective on Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Wolfe Research began coverage on Roivant Sciences in a research note on Thursday, February 15th. They issued an “outperform” rating and a $17.00 target price for the company. Piper Sandler began coverage on Roivant Sciences in a research note on Friday, January 5th. They issued an “overweight” rating and a $20.00 target price for the company. HC Wainwright upped their target price on Roivant Sciences from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.90.

Insider Activity

In related news, COO Eric Venker sold 96,950 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the transaction, the chief operating officer now owns 532,207 shares in the company, valued at $5,811,700.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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.