Arizona State Retirement System Has $4.54 Million Position in Roivant Sciences Ltd. $ROIV

Arizona State Retirement System raised its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,364 shares of the company’s stock after buying an additional 25,199 shares during the period. Arizona State Retirement System’s holdings in Roivant Sciences were worth $4,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ROIV. Allworth Financial LP raised its position in shares of Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after acquiring an additional 583 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Roivant Sciences in the fourth quarter valued at approximately $47,000. Parallel Advisors LLC boosted its holdings in Roivant Sciences by 33.7% in the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock valued at $57,000 after acquiring an additional 520 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Roivant Sciences by 7,614.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company’s stock valued at $59,000 after purchasing an additional 2,665 shares during the period. Finally, Clearstead Advisors LLC increased its position in Roivant Sciences by 141.6% during the 4th quarter. Clearstead Advisors LLC now owns 2,907 shares of the company’s stock valued at $63,000 after purchasing an additional 1,704 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Stock Down 0.3%

NASDAQ:ROIV opened at $40.82 on Friday. The company has a fifty day moving average of $35.79 and a 200-day moving average of $31.62. The firm has a market capitalization of $29.49 billion, a P/E ratio of -77.02 and a beta of 1.12. Roivant Sciences Ltd. has a twelve month low of $13.81 and a twelve month high of $42.50.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. On average, analysts anticipate that Roivant Sciences Ltd. will post -2 EPS for the current fiscal year.

Insider Transactions at Roivant Sciences

In related news, Director Daniel Gold sold 12,380 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.28, for a total transaction of $436,766.40. Following the transaction, the director directly owned 13,689,166 shares of the company’s stock, valued at approximately $482,953,776.48. This represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mayukh Sukhatme sold 144,756 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.48, for a total value of $5,280,698.88. Following the completion of the transaction, the insider owned 18,630,739 shares in the company, valued at approximately $679,649,358.72. The trade was a 0.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,055,913 shares of company stock valued at $107,261,258. 8.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ROIV shares. Guggenheim boosted their price target on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup increased their price objective on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Leerink Partners set a $42.00 target price on shares of Roivant Sciences in a research note on Thursday, May 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a report on Tuesday, August 25th. Finally, Sanford C. Bernstein upgraded shares of Roivant Sciences to a “strong-buy” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.62.

Roivant Sciences Profile

Roivant Sciences Ltd. is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with significant unmet medical needs. The company concentrates on areas including immunology, dermatology, oncology and other specialty conditions, using a combination of internally developed programs, external licensing and strategic acquisitions.

Roivant organizes many of its drug-development activities through subsidiary companies known as “Vants.” These businesses are designed to advance individual therapeutic programs or groups of related assets, while Roivant provides operational, scientific and strategic support.