First Trust Advisors LP Boosts Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

First Trust Advisors LP lifted its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIVFree Report) by 434.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,739,438 shares of the company’s stock after buying an additional 2,227,192 shares during the quarter. First Trust Advisors LP owned approximately 0.34% of Roivant Sciences worth $30,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Rafferty Asset Management LLC grew its holdings in shares of Roivant Sciences by 25.1% during the fourth quarter. Rafferty Asset Management LLC now owns 973,134 shares of the company’s stock worth $10,928,000 after buying an additional 195,136 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Roivant Sciences during the fourth quarter worth about $170,000. Treasurer of the State of North Carolina grew its holdings in shares of Roivant Sciences by 3.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 157,830 shares of the company’s stock worth $1,772,000 after buying an additional 5,190 shares in the last quarter. Decheng Capital LLC purchased a new stake in shares of Roivant Sciences during the fourth quarter worth about $14,371,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Roivant Sciences by 35.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock worth $193,000 after buying an additional 4,458 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Trading Down 1.4 %

Shares of ROIV stock opened at $10.47 on Monday. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 2.07 and a beta of 1.25. The company has a quick ratio of 25.24, a current ratio of 25.24 and a debt-to-equity ratio of 0.07. Roivant Sciences Ltd. has a fifty-two week low of $8.24 and a fifty-two week high of $13.24. The firm’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $10.78.

Analyst Upgrades and Downgrades

ROIV has been the subject of a number of recent research reports. TheStreet upgraded shares of Roivant Sciences from a “d” rating to a “c+” rating in a report on Tuesday, February 13th. Wolfe Research initiated coverage on shares of Roivant Sciences in a report on Thursday, February 15th. They issued an “outperform” rating and a $17.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Roivant Sciences from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Friday, May 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.90.

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About Roivant Sciences

(Free Report)

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.

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

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