Bank of New York Mellon Corp Grows Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Bank of New York Mellon Corp increased its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,686,538 shares of the company’s stock after buying an additional 58,541 shares during the period. Bank of New York Mellon Corp owned 0.36% of Roivant Sciences worth $28,397,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ROIV. EFG Asset Management North America Corp. increased its stake in Roivant Sciences by 11.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 331,072 shares of the company’s stock worth $3,498,000 after acquiring an additional 34,248 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Roivant Sciences during the second quarter worth about $101,000. Paradiem LLC purchased a new stake in Roivant Sciences in the second quarter valued at approximately $1,021,000. ORG Partners LLC purchased a new stake in Roivant Sciences in the second quarter valued at approximately $106,000. Finally, SG Americas Securities LLC bought a new stake in Roivant Sciences during the second quarter valued at approximately $472,000. Institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROIV. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Monday, August 19th. Piper Sandler raised their price target on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Tuesday, June 18th. 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 stock has an average rating of “Moderate Buy” and an average price target of $17.10.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock opened at $11.77 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.24. The business’s 50 day simple moving average is $11.12 and its two-hundred day simple moving average is $11.00. The stock has a market capitalization of $8.69 billion, a P/E ratio of 2.33 and a beta of 1.24.

Roivant Sciences (NASDAQ:ROIV) last issued 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 firm had revenue of $55.10 million during the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The company’s quarterly revenue was up 155.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) earnings per share. Analysts forecast that Roivant Sciences Ltd. will post -1.14 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.