Pier Capital LLC Has $4.49 Million Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Pier Capital LLC increased its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 29.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 425,087 shares of the company's stock after acquiring an additional 96,905 shares during the period. Pier Capital LLC owned approximately 0.06% of Roivant Sciences worth $4,493,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Rubric Capital Management LP boosted its position in Roivant Sciences by 81.0% during the 4th 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 period. Norges Bank acquired a new stake in Roivant Sciences in the fourth quarter worth about $41,506,000. First Trust Advisors LP lifted its holdings in Roivant Sciences by 434.8% in 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 during the period. Penn Davis Mcfarland Inc. bought a new position in Roivant Sciences in the 1st quarter valued at about $17,287,000. Finally, BlackBarn Capital Partners LP acquired a new position in Roivant Sciences during the 4th quarter valued at about $17,406,000. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV traded up $0.19 during mid-day trading on Wednesday, reaching $12.38. The company had a trading volume of 5,266,381 shares, compared to its average volume of 5,710,592. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. The stock has a market cap of $9.15 billion, a PE ratio of 2.45 and a beta of 1.25. The company has a 50-day moving average price of $11.27 and a two-hundred day moving average price of $11.03. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.24.

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

Analyst Upgrades and Downgrades

ROIV has been the subject of a number of research analyst reports. Piper Sandler upped 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. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday. Bank of America lifted their price target on Roivant Sciences from $12.00 to $12.50 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Roivant Sciences in a report on Monday. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.15.

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.