Roivant Sciences Ltd. (NASDAQ:ROIV) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 14.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 252,721 shares of the company’s stock after selling 42,784 shares during the period. Texas Permanent School Fund Corp’s holdings in Roivant Sciences were worth $2,671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ROIV. Charles Schwab Investment Management Inc. raised its stake in shares of Roivant Sciences by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,023,027 shares of the company’s stock worth $22,719,000 after buying an additional 99,148 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position 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 purchasing an additional 3,955 shares during the period. Norges Bank acquired a new stake in shares of Roivant Sciences during the fourth quarter worth $41,506,000. Dynamic Technology Lab Private Ltd raised its position in shares of Roivant Sciences by 35.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock worth $193,000 after purchasing an additional 4,458 shares during the period. Finally, Decheng Capital LLC acquired a new stake in shares of Roivant Sciences during the fourth quarter worth $14,371,000. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

ROIV opened at $12.04 on Tuesday. The company has a market cap of $8.89 billion, a PE ratio of 2.38 and a beta of 1.25. The stock has a 50-day moving average of $11.40 and a 200-day moving average of $11.04. Roivant Sciences Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROIV. Piper Sandler boosted their target price on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America boosted their target price 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 restated an “overweight” rating on shares of Roivant Sciences in a research note on Monday, September 9th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.15.

Roivant Sciences 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.