Allspring Global Investments Holdings LLC Sells 115,694 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Allspring Global Investments Holdings LLC reduced its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 88.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,937 shares of the company’s stock after selling 115,694 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Roivant Sciences were worth $172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in Roivant Sciences during the second quarter worth $34,000. Point72 Hong Kong Ltd bought a new position in Roivant Sciences in the 2nd quarter valued at about $36,000. Quarry LP acquired a new position in Roivant Sciences during the 2nd quarter valued at about $53,000. Acadian Asset Management LLC purchased a new stake in shares of Roivant Sciences in the first quarter worth approximately $72,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Roivant Sciences in the second quarter valued at approximately $101,000. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Up 1.1 %

ROIV opened at $11.68 on Monday. Roivant Sciences Ltd. has a twelve month low of $8.47 and a twelve month high of $13.06. The company’s 50-day moving average price is $11.82 and its two-hundred day moving average price is $11.26. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 2.10 and a beta of 1.24. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.33. The business had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. Roivant Sciences’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) earnings per share. As a group, equities analysts expect that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Activity at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the completion of the transaction, the chief operating officer now directly owns 617,470 shares of the company’s stock, valued at $7,193,525.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $11.65, for a total transaction of $1,165,000.00. Following the completion of the transaction, the chief operating officer now owns 617,470 shares of the company’s stock, valued at approximately $7,193,525.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith S. Manchester sold 368,052 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the sale, the director now directly owns 1,412,126 shares in the company, valued at $16,408,904.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,577,309 shares of company stock worth $42,151,184. 7.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.