Victory Capital Management Inc. Sells 95,141 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Victory Capital Management Inc. reduced its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 78.0% in the second quarter, HoldingsChannel.com reports. The fund owned 26,889 shares of the company’s stock after selling 95,141 shares during the quarter. Victory Capital Management Inc.’s holdings in Roivant Sciences were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its stake in Roivant Sciences by 12.1% during the second quarter. Natixis Advisors LLC now owns 141,991 shares of the company’s stock worth $1,500,000 after purchasing an additional 15,280 shares during the last quarter. nVerses Capital LLC bought a new stake in Roivant Sciences in the 2nd quarter worth approximately $34,000. Crossmark Global Holdings Inc. purchased a new stake in Roivant Sciences in the second quarter worth approximately $218,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Roivant Sciences by 27.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,287 shares of the company’s stock worth $838,000 after buying an additional 17,248 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Roivant Sciences by 85.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 130,631 shares of the company’s stock worth $1,381,000 after acquiring an additional 60,221 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Roivant Sciences Stock Down 0.6 %

Shares of NASDAQ:ROIV opened at $11.90 on Tuesday. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month high of $13.24. The stock has a fifty day simple moving average of $11.47 and a two-hundred day simple moving average of $11.06. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 2.35 and a beta of 1.25. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating 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 business had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. During the same period last year, the business posted ($0.38) EPS. The company’s revenue was up 155.1% compared to the same quarter last year. On average, research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

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.