Tidal Investments LLC Acquires 14,662 Shares of Roivant Sciences Ltd. $ROIV

Tidal Investments LLC raised its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 16.5% during the second quarter, Holdings Channel reports. The fund owned 103,397 shares of the company’s stock after buying an additional 14,662 shares during the period. Tidal Investments LLC’s holdings in Roivant Sciences were worth $3,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new stake in shares of Roivant Sciences during the 2nd quarter valued at approximately $16,830,000. Arizona State Retirement System grew its position in shares of Roivant Sciences by 24.4% in the second quarter. Arizona State Retirement System now owns 128,364 shares of the company’s stock valued at $4,543,000 after purchasing an additional 25,199 shares in the last quarter. Waverly Advisors LLC boosted its stake in Roivant Sciences by 2.3% in the 2nd quarter. Waverly Advisors LLC now owns 12,869 shares of the company’s stock worth $455,000 after purchasing an additional 291 shares during the period. VELA Investment Management LLC purchased a new position in Roivant Sciences during the 2nd quarter valued at about $207,000. Finally, Corient Private Wealth LP grew its holdings in Roivant Sciences by 48.7% during the 2nd quarter. Corient Private Wealth LP now owns 12,666 shares of the company’s stock valued at $448,000 after buying an additional 4,148 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Stock Performance

ROIV opened at $41.02 on Tuesday. The stock has a market capitalization of $29.63 billion, a PE ratio of -77.40 and a beta of 1.12. The stock’s 50 day moving average price is $35.90 and its 200-day moving average price is $31.74. Roivant Sciences Ltd. has a 52-week low of $13.81 and a 52-week high of $42.50.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. Research analysts forecast that Roivant Sciences Ltd. will post -2 EPS for the current fiscal year.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $35.77, for a total value of $7,154,000.00. Following the sale, the chief executive officer owned 1,599,154 shares in the company, valued at approximately $57,201,738.58. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mayukh Sukhatme sold 144,756 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $36.48, for a total value of $5,280,698.88. Following the completion of the sale, the insider directly owned 18,630,739 shares in the company, valued at approximately $679,649,358.72. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,055,913 shares of company stock worth $107,261,258. Insiders own 8.80% of the company’s stock.

Wall Street Analyst Weigh In

ROIV has been the topic of a number of research analyst reports. UBS Group set a $55.00 price target on shares of Roivant Sciences in a report on Wednesday, September 9th. Citigroup upped their price objective on Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, August 10th. TD Cowen increased their price objective on Roivant Sciences from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Guggenheim boosted their target price on Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.62.

Roivant Sciences Company Profile

Roivant Sciences Ltd. is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with significant unmet medical needs. The company concentrates on areas including immunology, dermatology, oncology and other specialty conditions, using a combination of internally developed programs, external licensing and strategic acquisitions.

Roivant organizes many of its drug-development activities through subsidiary companies known as “Vants.” These businesses are designed to advance individual therapeutic programs or groups of related assets, while Roivant provides operational, scientific and strategic support.