Penn Davis Mcfarland Inc. Purchases 58,206 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Penn Davis Mcfarland Inc. grew its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,707,232 shares of the company's stock after purchasing an additional 58,206 shares during the period. Roivant Sciences comprises about 2.0% of Penn Davis Mcfarland Inc.'s portfolio, making the stock its 18th largest position. Penn Davis Mcfarland Inc. owned approximately 0.24% of Roivant Sciences worth $17,226,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ROIV. New York State Common Retirement Fund raised its holdings in Roivant Sciences by 15.2% in the fourth quarter. New York State Common Retirement Fund now owns 219,793 shares of the company's stock worth $2,600,000 after purchasing an additional 29,000 shares during the period. Bank of New York Mellon Corp raised its holdings in Roivant Sciences by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,439,540 shares of the company's stock worth $40,690,000 after purchasing an additional 510,398 shares during the period. New York Life Investment Management LLC acquired a new stake in Roivant Sciences in the fourth quarter worth $454,000. Steward Partners Investment Advisory LLC acquired a new stake in Roivant Sciences in the fourth quarter worth $260,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Roivant Sciences by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,812,502 shares of the company's stock worth $33,272,000 after acquiring an additional 45,090 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $10.95, for a total value of $1,095,000.00. Following the completion of the transaction, the chief operating officer now owns 1,077,197 shares of the company's stock, valued at $11,795,307.15. This trade represents a 8.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of Roivant Sciences stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the completion of the transaction, the insider now directly owns 39,799,611 shares of the company's stock, valued at approximately $456,501,538.17. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,464,462 shares of company stock valued at $39,098,856. Corporate insiders own 7.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ROIV shares. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, June 18th.

Roivant Sciences Trading Down 1.8%

Shares of ROIV stock traded down $0.21 during trading hours on Friday, hitting $11.39. 11,126,688 shares of the company were exchanged, compared to its average volume of 5,641,244. The business has a 50 day moving average of $11.11 and a two-hundred day moving average of $10.91. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06. The company has a market capitalization of $7.74 billion, a PE ratio of -45.56 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The company had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. During the same period in the prior year, the company earned ($0.23) EPS. On average, research analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

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.