Concurrent Investment Advisors LLC Boosts Stock Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Concurrent Investment Advisors increased its Roivant Sciences stake by 336.1% in the second quarter, bringing its holdings to 190,938 shares valued at approximately $6.76 million. Institutional investors collectively own 64.76% of the company.
• Roivant shares opened at $34.93, near their 52-week high of $37.97, with a market capitalization of $25.23 billion. The stock has a “Moderate Buy” consensus rating and an average analyst price target of $35.14, though several firms have issued targets above $40.
• The company reported a quarterly loss of $0.26 per share, better than the consensus estimate of a $0.30 loss, but revenue of $1.44 million fell short of expectations. Insiders sold more than 3 million shares worth $107.3 million over the prior three months.

Concurrent Investment Advisors LLC raised its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 336.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,938 shares of the company's stock after acquiring an additional 147,151 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Roivant Sciences were worth $6,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Roivant Sciences in the 1st quarter valued at $3,957,000. Baader Bank Aktiengesellschaft acquired a new stake in Roivant Sciences during the 4th quarter worth $1,029,000. Jefferies Financial Group Inc. purchased a new stake in shares of Roivant Sciences during the fourth quarter worth $76,272,000. Nicholas Investment Partners LP grew its holdings in shares of Roivant Sciences by 13.9% during the fourth quarter. Nicholas Investment Partners LP now owns 279,856 shares of the company's stock worth $6,073,000 after buying an additional 34,235 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Roivant Sciences by 8.0% during the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company's stock worth $87,638,000 after buying an additional 235,493 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $34.93 on Friday. The company has a 50 day simple moving average of $35.30 and a 200-day simple moving average of $31.17. The company has a market capitalization of $25.23 billion, a P/E ratio of -65.91 and a beta of 1.12. Roivant Sciences Ltd. has a 1 year low of $12.54 and a 1 year high of $37.97.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. The firm had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. As a group, research analysts expect that Roivant Sciences Ltd. will post -2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ROIV. Sanford C. Bernstein raised shares of Roivant Sciences to a "strong-buy" rating in a research note on Wednesday, July 29th. Piper Sandler reaffirmed an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Guggenheim upped their price objective on shares of Roivant Sciences from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a report on Tuesday, August 25th. Finally, Citigroup raised their target price on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.14.

Insiders Place Their Bets

In other Roivant Sciences news, Director Daniel Gold sold 12,380 shares of Roivant Sciences stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.28, for a total value of $436,766.40. Following the sale, the director owned 13,689,166 shares in the company, valued at $482,953,776.48. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mayukh Sukhatme sold 144,756 shares of the company's stock in a transaction on Friday, August 21st. The shares were 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 directly owned 18,630,739 shares in the company, valued at approximately $679,649,358.72. This trade represents a 0.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,055,913 shares of company stock worth $107,261,258 in the last three months. 8.80% of the stock is owned by insiders.

Roivant Sciences Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

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