Nuveen LLC Takes $31.99 Million Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Key Points

• Nuveen LLC has acquired a new stake in Roivant Sciences, purchasing over 3.17 million shares valued at approximately $31.99 million, representing about 0.44% of the company's total shares.
• Roivant Sciences recently reported a quarterly earnings miss with an earnings per share of ($0.31), falling short of analysts' expectations and showing a significant negative net margin of 2,111.79%.
• Institutional investors hold a significant share of Roivant Sciences, with about 64.76% of the stock currently owned by hedge funds and institutional investors.

Nuveen LLC bought a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,170,286 shares of the company's stock, valued at approximately $31,988,000. Nuveen LLC owned about 0.44% of Roivant Sciences as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. TOMS Capital Investment Management LP raised its stake in Roivant Sciences by 46.6% during the fourth quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company's stock worth $69,620,000 after purchasing an additional 1,870,000 shares during the period. Marshall Wace LLP raised its stake in Roivant Sciences by 104.4% during the fourth quarter. Marshall Wace LLP now owns 2,946,954 shares of the company's stock worth $34,862,000 after purchasing an additional 1,505,062 shares during the period. Vestal Point Capital LP purchased a new position in Roivant Sciences during the fourth quarter worth about $14,788,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Roivant Sciences during the fourth quarter worth about $13,758,000. Finally, Baker BROS. Advisors LP raised its stake in Roivant Sciences by 34.6% during the fourth quarter. Baker BROS. Advisors LP now owns 3,767,773 shares of the company's stock worth $44,573,000 after purchasing an additional 969,057 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Price Performance

Shares of ROIV opened at $11.85 on Friday. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $13.06. The stock has a market cap of $8.06 billion, a PE ratio of -16.93 and a beta of 1.15. The firm has a 50-day simple moving average of $11.38 and a two-hundred day simple moving average of $10.89.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 2,111.79% and a negative return on equity of 15.90%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, sell-side analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $11.52, for a total transaction of $1,152,000.00. Following the completion of the sale, the chief executive officer directly owned 1,462,223 shares in the company, valued at $16,844,808.96. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the sale, the insider owned 37,284,108 shares of the company's stock, valued at approximately $427,275,877.68. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,190,503 shares of company stock valued at $36,086,546. Company insiders own 10.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on ROIV. The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a research note on Thursday, July 10th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th.

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.

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