Handelsbanken Fonder AB Raises Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Handelsbanken Fonder AB increased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 26.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,909 shares of the company’s stock after purchasing an additional 22,000 shares during the period. Handelsbanken Fonder AB’s holdings in Roivant Sciences were worth $1,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Citigroup Inc. boosted its stake in shares of Roivant Sciences by 45.6% during the 3rd quarter. Citigroup Inc. now owns 326,431 shares of the company’s stock worth $3,813,000 after purchasing an additional 102,279 shares during the last quarter. Morgan Stanley raised its position in shares of Roivant Sciences by 48.7% in the third quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock valued at $225,560,000 after buying an additional 6,324,915 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in shares of Roivant Sciences by 18.4% during the third quarter. Deerfield Management Company L.P. Series C now owns 1,604,487 shares of the company’s stock valued at $18,740,000 after buying an additional 249,513 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Roivant Sciences during the third quarter worth approximately $4,200,000. Finally, Corton Capital Inc. grew its stake in Roivant Sciences by 87.2% in the 3rd quarter. Corton Capital Inc. now owns 27,236 shares of the company’s stock worth $318,000 after acquiring an additional 12,685 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Up 1.4 %

ROIV opened at $11.03 on Monday. Roivant Sciences Ltd. has a 1 year low of $8.06 and a 1 year high of $13.24. The firm has a 50 day moving average price of $10.92 and a 200 day moving average price of $10.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. The company has a market cap of $8.89 billion, a PE ratio of 2.12 and a beta of 1.34.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The company had revenue of $37.14 million during the quarter, compared to the consensus estimate of $30.72 million. Sell-side analysts expect that Roivant Sciences Ltd. will post -1.36 earnings per share for the current year.

Insider Buying and Selling

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $10.92, for a total value of $1,058,694.00. Following the transaction, the chief operating officer now directly owns 532,207 shares of the company’s stock, valued at $5,811,700.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wolfe Research initiated coverage on Roivant Sciences in a research note on Thursday, February 15th. They set an “outperform” rating and a $17.00 price target on the stock. The Goldman Sachs Group increased their target price on Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Roivant Sciences from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler started coverage on shares of Roivant Sciences in a research note on Friday, January 5th. They set an “overweight” rating and a $20.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.90.

About Roivant Sciences

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.