EFG Asset Management Americas Corp. Buys 60,758 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

EFG Asset Management Americas Corp. grew its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 78.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,690 shares of the company's stock after acquiring an additional 60,758 shares during the quarter. EFG Asset Management Americas Corp.'s holdings in Roivant Sciences were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of Roivant Sciences in the second quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in shares of Roivant Sciences during the first quarter worth $72,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Roivant Sciences during the second quarter worth $101,000. ORG Partners LLC acquired a new stake in shares of Roivant Sciences during the second quarter worth $106,000. Finally, Premier Path Wealth Partners LLC acquired a new position in Roivant Sciences in the 1st quarter worth $126,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Stock Up 0.9 %

ROIV traded up $0.11 during trading on Friday, reaching $12.30. 5,071,029 shares of the stock were exchanged, compared to its average volume of 5,642,814. The stock has a market cap of $9.09 billion, a P/E ratio of 2.43 and a beta of 1.25. 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's 50 day moving average price is $11.21 and its two-hundred day moving average price is $11.02. Roivant Sciences Ltd. has a twelve month low of $8.24 and a twelve month high of $13.24.

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

Analyst Ratings Changes

Several analysts have issued reports on ROIV shares. HC Wainwright reissued a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Monday, August 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Roivant Sciences in a research note on Tuesday, June 18th. Finally, Piper Sandler raised their price target on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $17.10.

About Roivant Sciences

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.