Clearbridge Investments LLC Buys Shares of 1,229,824 Roivant Sciences Ltd. (NASDAQ:ROIV)

Clearbridge Investments LLC purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,229,824 shares of the company’s stock, valued at approximately $12,962,000. Clearbridge Investments LLC owned about 0.15% of Roivant Sciences as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ROIV. Rubric Capital Management LP grew its stake in shares of Roivant Sciences by 81.0% during the fourth quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock worth $213,370,000 after acquiring an additional 8,500,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Roivant Sciences during the fourth quarter worth about $41,506,000. Vanguard Group Inc. grew its stake in shares of Roivant Sciences by 159.1% during the third quarter. Vanguard Group Inc. now owns 5,602,566 shares of the company’s stock worth $65,438,000 after acquiring an additional 3,440,374 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Roivant Sciences by 434.8% during the fourth quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock worth $30,764,000 after acquiring an additional 2,227,192 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. purchased a new stake in shares of Roivant Sciences during the first quarter worth about $17,287,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Friday, May 31st. Finally, The Goldman Sachs Group lifted their target price on Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.10.

Roivant Sciences Stock Performance

NASDAQ:ROIV traded down $0.26 during trading hours on Wednesday, reaching $10.75. The company had a trading volume of 3,777,780 shares, compared to its average volume of 5,965,580. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.24. The firm has a market cap of $7.94 billion, a PE ratio of 2.16 and a beta of 1.24. The business’s 50 day moving average price is $10.89 and its 200-day moving average price is $10.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 25.24 and a quick ratio of 25.24.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $28.93 million during the quarter, compared to the consensus estimate of $32.46 million. Roivant Sciences had a negative return on equity of 25.05% and a net margin of 3,484.86%. Research analysts forecast that Roivant Sciences Ltd. will post -1.12 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.