Sofinnova Investments Inc. Has $19.75 Million Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Sofinnova Investments Inc. grew its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 86.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,868,412 shares of the company’s stock after purchasing an additional 866,708 shares during the period. Roivant Sciences makes up about 1.0% of Sofinnova Investments Inc.’s portfolio, making the stock its 26th biggest position. Sofinnova Investments Inc. owned about 0.25% of Roivant Sciences worth $19,749,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ROIV. Texas Permanent School Fund Corp acquired a new position in Roivant Sciences during the first quarter worth about $3,115,000. American International Group Inc. lifted its stake in Roivant Sciences by 7,589.5% in the 1st quarter. American International Group Inc. now owns 450,065 shares of the company’s stock valued at $4,744,000 after purchasing an additional 444,212 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Roivant Sciences in the first quarter valued at approximately $2,851,000. Magnetar Financial LLC bought a new stake in shares of Roivant Sciences during the first quarter worth $1,576,000. Finally, Mutual of America Capital Management LLC lifted its stake in shares of 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 valued at $3,435,000 after acquiring an additional 175,574 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, September 11th. Piper Sandler lifted their price target 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. Bank of America lifted their target price on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.15.

Roivant Sciences Trading Up 0.8 %

Shares of ROIV stock opened at $12.04 on Tuesday. Roivant Sciences Ltd. has a fifty-two week low of $8.24 and a fifty-two 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. The stock has a 50 day simple moving average of $11.40 and a two-hundred day simple moving average of $11.04. The company has a market cap of $8.89 billion, a P/E ratio of 2.38 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. Roivant Sciences’s revenue for the quarter was up 155.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.38) EPS. Research analysts forecast that Roivant Sciences Ltd. will post -1.14 earnings per share 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.