VELA Investment Management LLC Increases Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

VELA Investment Management LLC raised its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,386 shares of the company’s stock after acquiring an additional 2,621 shares during the period. VELA Investment Management LLC’s holdings in Roivant Sciences were worth $364,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ROIV. Rubric Capital Management LP boosted its stake in shares of Roivant Sciences by 196.9% during the third quarter. Rubric Capital Management LP now owns 10,500,000 shares of the company’s stock valued at $122,640,000 after purchasing an additional 6,963,562 shares during the period. Morgan Stanley raised its position in shares of Roivant Sciences by 48.7% in the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock worth $225,560,000 after acquiring an additional 6,324,915 shares in the last quarter. BlackRock Inc. boosted its position in shares of Roivant Sciences by 99.5% during the second quarter. BlackRock Inc. now owns 12,372,873 shares of the company’s stock valued at $124,719,000 after purchasing an additional 6,170,264 shares in the last quarter. State Street Corp grew its stake in Roivant Sciences by 129.1% in the first quarter. State Street Corp now owns 8,032,952 shares of the company’s stock worth $59,283,000 after purchasing an additional 4,525,910 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Roivant Sciences by 159.1% in the third quarter. Vanguard Group Inc. now owns 5,602,566 shares of the company’s stock worth $65,438,000 after purchasing an additional 3,440,374 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Price Performance

NASDAQ ROIV traded down $0.01 during trading hours on Tuesday, reaching $10.83. The company’s stock had a trading volume of 686,811 shares, compared to its average volume of 6,968,514. The company has a debt-to-equity ratio of 0.06, a current ratio of 27.79 and a quick ratio of 27.79. Roivant Sciences Ltd. has a 1-year low of $7.60 and a 1-year high of $13.24. The company’s 50-day moving average is $10.96 and its two-hundred day moving average is $10.36. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 2.08 and a beta of 1.34.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. The firm had revenue of $37.14 million for the quarter, compared to analyst estimates of $30.72 million. On average, equities analysts predict that Roivant Sciences Ltd. will post -1.36 EPS for the current year.

Insider Buying and Selling

In other news, COO Eric Venker sold 96,950 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 532,207 shares in the company, valued at $5,811,700.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ROIV. Truist Financial reissued a “buy” rating and set a $23.00 price objective on shares of Roivant Sciences in a research note on Monday, March 25th. HC Wainwright raised their price target on Roivant Sciences from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler began coverage on shares of Roivant Sciences in a research note on Friday, January 5th. They issued an “overweight” rating and a $20.00 price target on the stock. Bank of America lifted their target price on shares of Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.90.

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.