Public Employees Retirement System of Ohio Invests $4.94 Million in Roivant Sciences Ltd. $ROIV

Key Points

• Public Employees Retirement System of Ohio acquired 139,481 Roivant Sciences shares worth approximately $4.94 million during the second quarter. Institutional investors collectively own 64.76% of the company.
• Roivant reported a quarterly loss of $0.26 per share, beating analysts’ estimate of a $0.30 loss, but revenue of $1.44 million fell short of the $2.06 million consensus forecast. Analysts expect a full-year loss of approximately $2 per share.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $35.14, while company insiders sold roughly 3.06 million shares worth $107.3 million over the past quarter.

Public Employees Retirement System of Ohio acquired a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 139,481 shares of the company's stock, valued at approximately $4,936,000.

A number of other hedge funds have also recently bought and sold shares of the company. Great Lakes Advisors LLC bought a new position in shares of Roivant Sciences in the 2nd quarter valued at about $3,815,000. Handelsbanken Fonder AB raised its stake in shares of Roivant Sciences by 51.4% during the second quarter. Handelsbanken Fonder AB now owns 177,209 shares of the company's stock worth $6,271,000 after buying an additional 60,200 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Roivant Sciences by 18.2% during the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock worth $295,965,000 after buying an additional 1,286,464 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Roivant Sciences by 17.4% in the second quarter. GAMMA Investing LLC now owns 14,637 shares of the company's stock valued at $518,000 after buying an additional 2,172 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Roivant Sciences by 13.9% in the second quarter. Versant Capital Management Inc now owns 3,995 shares of the company's stock valued at $141,000 after buying an additional 487 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $34.18 on Thursday. Roivant Sciences Ltd. has a 52-week low of $12.28 and a 52-week high of $37.97. The stock has a market cap of $24.69 billion, a P/E ratio of -64.49 and a beta of 1.12. The firm has a 50 day moving average price of $35.27 and a 200 day moving average price of $31.09.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping 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 company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Analysts predict that Roivant Sciences Ltd. will post -2 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research firms have commented on ROIV. Leerink Partners set a $42.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Guggenheim increased their price target on Roivant Sciences from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Sanford C. Bernstein upgraded Roivant Sciences to a "strong-buy" rating in a research report on Wednesday, July 29th. TD Cowen reaffirmed a "buy" rating on shares of Roivant Sciences in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a report on Tuesday, August 25th. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.14.

Roivant Sciences Company 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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