Rhumbline Advisers Has $9.37 Million Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Rhumbline Advisers lessened its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 886,493 shares of the company's stock after selling 70,856 shares during the period. Rhumbline Advisers owned approximately 0.12% of Roivant Sciences worth $9,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ROIV. nVerses Capital LLC bought a new position in Roivant Sciences during the second quarter worth about $34,000. Acadian Asset Management LLC acquired a new position in shares of Roivant Sciences during the 1st quarter worth approximately $72,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Roivant Sciences in the second quarter valued at approximately $101,000. ORG Partners LLC bought a new stake in shares of Roivant Sciences in the second quarter valued at approximately $106,000. Finally, Premier Path Wealth Partners LLC acquired a new stake in Roivant Sciences during the first quarter worth approximately $126,000. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock traded down $0.18 during midday trading on Friday, hitting $11.94. 6,433,128 shares of the company traded hands, compared to its average volume of 5,705,348. The firm's fifty day moving average price is $11.34 and its 200-day moving average price is $11.04. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 2.40 and a beta of 1.25. Roivant Sciences Ltd. has a 12 month low of $8.24 and a 12 month high of $13.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $55.10 million for the quarter, compared to analysts' expectations of $30.72 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. The company's revenue was up 155.1% on a year-over-year basis. As a group, sell-side analysts forecast that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ROIV shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Roivant Sciences in a report on Monday. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday. Bank of America boosted their target price on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Piper Sandler increased 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 research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.15.

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.