Allspring Global Investments Holdings LLC Sells 115,694 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Allspring Global Investments Holdings LLC lowered its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 88.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,937 shares of the company’s stock after selling 115,694 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Roivant Sciences were worth $172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ROIV. State of Michigan Retirement System bought a new position in shares of Roivant Sciences during the first quarter valued at about $853,000. State of Alaska Department of Revenue bought a new stake in shares of Roivant Sciences in the first quarter worth about $389,000. Retirement Systems of Alabama purchased a new position in Roivant Sciences during the 1st quarter valued at about $4,464,000. Nordea Investment Management AB bought a new position in Roivant Sciences during the 1st quarter valued at approximately $2,851,000. Finally, Mutual of America Capital Management LLC lifted its holdings in Roivant Sciences by 116.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock worth $3,435,000 after buying an additional 175,574 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ROIV shares. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Thursday, September 19th. Bank of America lifted their target price 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 raised their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Roivant Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $17.39.

Roivant Sciences Stock Up 1.1 %

Shares of NASDAQ:ROIV opened at $11.68 on Monday. Roivant Sciences Ltd. has a 12-month low of $8.47 and a 12-month high of $13.06. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 2.10 and a beta of 1.24. The stock has a fifty day simple moving average of $11.82 and a two-hundred day simple moving average of $11.26. 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 announced its quarterly earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The company had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. During the same quarter in the previous year, the business posted ($0.38) EPS. Roivant Sciences’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.

Insider Transactions at Roivant Sciences

In other Roivant Sciences 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 sale, the director now directly owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $11.65, for a total transaction of $1,165,000.00. Following the completion of the transaction, the chief operating officer now directly owns 617,470 shares of the company’s stock, valued at $7,193,525.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith S. Manchester sold 368,052 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the transaction, the director now owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,577,309 shares of company stock worth $42,151,184. Corporate insiders own 7.90% of the company’s stock.

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.