Exchange Traded Concepts LLC Purchases Shares of 196,480 Roivant Sciences Ltd. (NASDAQ:ROIV)

Exchange Traded Concepts LLC purchased a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 196,480 shares of the company’s stock, valued at approximately $2,267,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Roivant Sciences during the second quarter worth about $34,000. Point72 Hong Kong Ltd acquired a new position in shares of Roivant Sciences in the 2nd quarter worth approximately $36,000. Quarry LP bought a new stake in shares of Roivant Sciences in the 2nd quarter worth approximately $53,000. Acadian Asset Management LLC acquired a new stake in Roivant Sciences during the first quarter valued at approximately $72,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Roivant Sciences during the second quarter worth approximately $101,000. Institutional investors own 64.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Keith S. Manchester sold 368,052 shares of Roivant Sciences stock in a transaction dated 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 completion of the sale, the director now directly owns 1,412,126 shares in the company, valued at $16,408,904.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Keith S. Manchester sold 368,052 shares of Roivant Sciences stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the sale, the director now owns 1,412,126 shares of the company’s stock, valued at approximately $16,408,904.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the transaction, the chief accounting officer now directly owns 209,322 shares in the company, valued at $2,488,838.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,477,309 shares of company stock valued at $40,986,184 in the last three months. Insiders own 4.60% of the company’s stock.

Roivant Sciences Stock Performance

ROIV stock opened at $11.84 on Tuesday. The firm has a 50 day simple moving average of $11.64 and a 200 day simple moving average of $11.18. Roivant Sciences Ltd. has a 52 week low of $8.24 and a 52 week high of $13.06. The stock has a market cap of $8.75 billion, a P/E ratio of 2.34 and a beta of 1.24. 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 issued its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $30.72 million. During the same quarter last year, the business posted ($0.38) EPS. The company’s revenue for the quarter was up 155.1% on a year-over-year basis. Research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.