37,000 Shares in Roivant Sciences Ltd. (NASDAQ:ROIV) Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue purchased a new position in Roivant Sciences Ltd. (NASDAQ:ROIV) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,000 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in Roivant Sciences by 42.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company’s stock worth $60,000 after purchasing an additional 1,608 shares in the last quarter. VELA Investment Management LLC increased its holdings in shares of Roivant Sciences by 8.8% during the fourth quarter. VELA Investment Management LLC now owns 32,386 shares of the company’s stock worth $364,000 after buying an additional 2,621 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Roivant Sciences during the fourth quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of Roivant Sciences during the fourth quarter worth approximately $36,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Roivant Sciences by 26.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company’s stock worth $210,000 after buying an additional 3,955 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ROIV shares. The Goldman Sachs Group raised their price objective on shares of Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Friday, May 31st. Truist Financial reissued a “buy” rating and set a $23.00 price target on shares of Roivant Sciences in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Roivant Sciences from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Piper Sandler increased their price target on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. One 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.10.

Roivant Sciences Price Performance

Shares of ROIV stock opened at $11.25 on Thursday. Roivant Sciences Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24. The stock has a market cap of $8.31 billion, a PE ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 25.24 and a current ratio of 25.24. The firm’s 50 day moving average price is $10.90 and its two-hundred day moving average price is $10.89.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Roivant Sciences had a net margin of 3,484.86% and a negative return on equity of 25.05%. The firm had revenue of $28.93 million for the quarter, compared to analysts’ expectations of $32.46 million. As a group, analysts forecast that Roivant Sciences Ltd. will post -1.12 EPS for the current year.

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.