Allspring Global Investments Holdings LLC Boosts Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Allspring Global Investments Holdings LLC grew its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 42.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,385 shares of the company’s stock after purchasing an additional 1,608 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Roivant Sciences were worth $60,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Roivant Sciences by 22.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 81,909 shares of the company’s stock worth $957,000 after buying an additional 14,909 shares during the period. Xponance Inc. boosted its holdings in shares of Roivant Sciences by 39.7% in the 3rd quarter. Xponance Inc. now owns 46,804 shares of the company’s stock valued at $547,000 after acquiring an additional 13,291 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Roivant Sciences by 38.7% in the third quarter. Maryland State Retirement & Pension System now owns 26,741 shares of the company’s stock worth $312,000 after acquiring an additional 7,461 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Roivant Sciences by 68.0% during the third quarter. Bank of New York Mellon Corp now owns 1,187,928 shares of the company’s stock worth $13,875,000 after purchasing an additional 480,946 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Roivant Sciences by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,019 shares of the company’s stock valued at $794,000 after purchasing an additional 5,465 shares during the period. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Stock Performance

ROIV opened at $11.13 on Tuesday. The firm’s fifty day simple moving average is $10.91 and its two-hundred day simple moving average is $10.38. Roivant Sciences Ltd. has a 52-week low of $8.06 and a 52-week high of $13.24. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 2.14 and a beta of 1.34. The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results 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. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The firm had revenue of $37.14 million for the quarter, compared to analyst estimates of $30.72 million. Equities analysts anticipate that Roivant Sciences Ltd. will post -1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ROIV shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Monday, April 22nd. The Goldman Sachs Group raised their target price on Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial reissued a “buy” rating and issued a $23.00 price target on shares of Roivant Sciences in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wolfe Research assumed coverage on shares of Roivant Sciences in a research note on Thursday, February 15th. They issued an “outperform” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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 business’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 sale, the chief operating officer now directly owns 532,207 shares in the company, valued at $5,811,700.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.