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

Key Points

• Arizona State Retirement System increased its Roivant Sciences stake by 24.4% in the second quarter, bringing its holdings to 128,364 shares valued at approximately $4.54 million. Institutional investors and hedge funds collectively own 64.76% of ROIV.
• Roivant reported a quarterly loss of $0.26 per share, better than the $0.30 analyst consensus, but revenue of $1.44 million fell short of the $2.06 million estimate. Analysts expect a full-year loss of about $2 per share.
• ROIV shares opened at $40.82, near the company’s 12-month high of $42.50. Analysts maintain a “Moderate Buy” consensus with an average price target of $40.62, while insiders sold more than $107 million of stock over the last quarter.

Arizona State Retirement System grew its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 24.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,364 shares of the company's stock after purchasing an additional 25,199 shares during the quarter. Arizona State Retirement System's holdings in Roivant Sciences were worth $4,543,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its holdings in Roivant Sciences by 48.1% in the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company's stock valued at $27,000 after buying an additional 583 shares in the last quarter. Parallel Advisors LLC raised its position in shares of 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 buying an additional 520 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Roivant Sciences in the fourth quarter valued at approximately $47,000. Bessemer Group Inc. boosted its stake in shares of Roivant Sciences by 21.8% in the first quarter. Bessemer Group Inc. now owns 2,465 shares of the company's stock valued at $69,000 after buying an additional 441 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Roivant Sciences by 7,614.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company's stock valued at $59,000 after buying an additional 2,665 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 stock's 50-day simple moving average is $35.79 and its 200 day simple moving average is $31.62. The firm has a market capitalization of $29.49 billion, a PE 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 - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. The firm had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. On average, analysts anticipate that Roivant Sciences Ltd. will post -2 EPS for the current fiscal year.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, Director Melissa Epperly sold 17,750 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $34.38, for a total value of $610,245.00. Following the completion of the transaction, the director owned 16,474 shares of the company's stock, valued at $566,376.12. This represents a 51.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $35.77, for a total value of $7,154,000.00. Following the completion of the transaction, the chief executive officer owned 1,599,154 shares of the company's stock, valued at $57,201,738.58. This represents a 11.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,055,913 shares of company stock worth $107,261,258. 8.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

ROIV has been the topic of a number of recent research reports. Bank of America restated a "neutral" rating on shares of Roivant Sciences in a research note on Friday, July 31st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a research report on Tuesday, August 25th. UBS Group set a $55.00 target price on Roivant Sciences in a research report on Wednesday. Sanford C. Bernstein raised Roivant Sciences to a "strong-buy" rating in a report on Wednesday, July 29th. Finally, HC Wainwright raised their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.

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