Xponance Inc. Sells 34,328 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Xponance Inc. trimmed its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 48.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 36,972 shares of the company’s stock after selling 34,328 shares during the quarter. Xponance Inc.’s holdings in Roivant Sciences were worth $391,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ROIV. Rubric Capital Management LP raised its holdings in Roivant Sciences by 81.0% in the 4th quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock worth $213,370,000 after purchasing an additional 8,500,000 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Roivant Sciences by 434.8% in the 4th quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock worth $30,764,000 after acquiring an additional 2,227,192 shares in the last quarter. BlackBarn Capital Partners LP purchased a new position in Roivant Sciences during the 4th quarter valued at about $17,406,000. Tyro Capital Management LLC bought a new stake in Roivant Sciences during the fourth quarter worth about $15,115,000. Finally, Principal Financial Group Inc. grew its holdings in Roivant Sciences by 3,413.9% in the first quarter. Principal Financial Group Inc. now owns 1,274,737 shares of the company’s stock worth $13,436,000 after purchasing an additional 1,238,460 shares during the period. 64.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Keith S. Manchester sold 368,052 shares of the stock in a transaction 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 transaction, the director now directly owns 1,412,126 shares of the company’s stock, valued at approximately $16,408,904.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Roivant Sciences news, Director Keith S. Manchester sold 368,052 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the transaction, the chief accounting officer now owns 209,322 shares in the company, valued at approximately $2,488,838.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,477,309 shares of company stock valued at $40,986,184. Company insiders own 4.60% of the company’s stock.

Roivant Sciences Price Performance

NASDAQ ROIV opened at $11.54 on Tuesday. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.06. The stock has a 50-day moving average of $11.50 and a 200 day moving average of $11.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 2.28 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. The firm had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The business’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) earnings per share. On average, sell-side analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

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

Roivant Sciences Company Profile

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.