Allspring Global Investments Holdings LLC Has $1.38 Million Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Allspring Global Investments Holdings LLC grew its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 85.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,631 shares of the company's stock after buying an additional 60,221 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Roivant Sciences were worth $1,381,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROIV. Acadian Asset Management LLC acquired a new position in Roivant Sciences during the first quarter worth $72,000. Fifth Third Wealth Advisors LLC bought a new position in Roivant Sciences during the 2nd quarter valued at about $101,000. ORG Partners LLC acquired a new position in Roivant Sciences in the second quarter valued at about $106,000. Premier Path Wealth Partners LLC bought a new stake in Roivant Sciences during the first quarter worth about $126,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Roivant Sciences during the fourth quarter worth approximately $170,000. 64.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ROIV shares. Piper Sandler raised their price target on Roivant Sciences from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Roivant Sciences in a report on Tuesday, June 18th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.10.

Roivant Sciences Trading Down 0.2 %

ROIV traded down $0.02 during midday trading on Wednesday, reaching $11.75. 4,029,139 shares of the company were exchanged, compared to its average volume of 5,645,564. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The stock has a market capitalization of $8.68 billion, a P/E ratio of 2.32 and a beta of 1.24. The stock's 50-day simple moving average is $11.14 and its 200 day simple moving average is $11.01. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.24.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.33. The firm had revenue of $55.10 million during the quarter, compared to analysts' expectations of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The business's revenue for the quarter was up 155.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.38) earnings per share. As a group, analysts forecast that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal 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.