Penn Davis Mcfarland Inc. Raises Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Penn Davis Mcfarland Inc. increased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,707,232 shares of the company's stock after buying an additional 58,206 shares during the quarter. Roivant Sciences comprises about 2.0% of Penn Davis Mcfarland Inc.'s holdings, making the stock its 18th largest position. Penn Davis Mcfarland Inc. owned approximately 0.24% of Roivant Sciences worth $17,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ROIV. Norges Bank purchased a new stake in shares of Roivant Sciences during the fourth quarter worth approximately $52,443,000. Invesco Ltd. increased its stake in Roivant Sciences by 49.7% in the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock valued at $112,563,000 after buying an additional 3,159,603 shares during the period. Vanguard Group Inc. increased its stake in Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock valued at $521,553,000 after buying an additional 2,404,232 shares during the period. TOMS Capital Investment Management LP raised its position in Roivant Sciences by 46.6% during the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company's stock worth $69,620,000 after buying an additional 1,870,000 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Roivant Sciences by 104.4% in the 4th quarter. Marshall Wace LLP now owns 2,946,954 shares of the company's stock worth $34,862,000 after acquiring an additional 1,505,062 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Trading Up 1.8%

Shares of NASDAQ:ROIV traded up $0.20 on Thursday, reaching $11.60. 6,020,887 shares of the company were exchanged, compared to its average volume of 5,628,032. The company has a 50-day moving average of $11.06 and a 200-day moving average of $10.93. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of -46.40 and a beta of 1.16. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. 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 previous year, the company posted ($0.23) earnings per share. As a group, analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, 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 owns 39,799,611 shares in the company, valued at approximately $456,501,538.17. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the completion of the sale, the chief operating officer now owns 1,116,345 shares in the company, valued at $11,409,045.90. This represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,464,462 shares of company stock valued at $39,098,856 in the last quarter. 7.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ROIV shares. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, June 18th. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th.

Roivant Sciences 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.