DNB Asset Management AS Has $592,000 Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

DNB Asset Management AS boosted its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 6.4% in the second quarter, Holdings Channel.com reports. The fund owned 56,022 shares of the company’s stock after buying an additional 3,386 shares during the quarter. DNB Asset Management AS’s holdings in Roivant Sciences were worth $592,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rubric Capital Management LP boosted its position 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 purchasing an additional 8,500,000 shares in the last quarter. Norges Bank bought a new position in shares of Roivant Sciences during the fourth quarter worth $41,506,000. First Trust Advisors LP boosted its position 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 purchasing an additional 2,227,192 shares in the last quarter. Penn Davis Mcfarland Inc. bought a new position in shares of Roivant Sciences during the first quarter worth $17,287,000. Finally, BlackBarn Capital Partners LP bought a new position in shares of Roivant Sciences during the fourth quarter worth $17,406,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Friday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Tuesday, June 18th. Finally, Piper Sandler boosted their price target on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Roivant Sciences has an average rating of “Moderate Buy” and an average price target of $17.10.

Roivant Sciences Stock Performance

Shares of Roivant Sciences stock traded up $0.15 during trading on Wednesday, hitting $10.48. 166,609 shares of the stock were exchanged, compared to its average volume of 5,807,956. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 2.04 and a beta of 1.24. The company has a fifty day moving average price of $10.78 and a 200-day moving average price of $10.86. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.24. The company has a current ratio of 25.24, a quick ratio of 25.24 and a debt-to-equity ratio of 0.07.

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

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.