Sofinnova Investments Inc. Increases Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Sofinnova Investments Inc. grew its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 86.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,868,412 shares of the company's stock after acquiring an additional 866,708 shares during the period. Roivant Sciences comprises 1.0% of Sofinnova Investments Inc.'s investment portfolio, making the stock its 26th biggest position. Sofinnova Investments Inc. owned approximately 0.25% of Roivant Sciences worth $19,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Roivant Sciences by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,023,027 shares of the company's stock valued at $22,719,000 after purchasing an additional 99,148 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Roivant Sciences by 26.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company's stock worth $210,000 after acquiring an additional 3,955 shares during the period. Norges Bank purchased a new stake in Roivant Sciences in the 4th quarter worth about $41,506,000. Dynamic Technology Lab Private Ltd raised its stake in Roivant Sciences by 35.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company's stock valued at $193,000 after acquiring an additional 4,458 shares during the period. Finally, Decheng Capital LLC purchased a new stake in Roivant Sciences during the fourth quarter valued at about $14,371,000. Hedge funds and other institutional investors own 64.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a "neutral" rating in a research note on Wednesday, September 11th. Piper Sandler lifted their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, July 10th. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Roivant Sciences in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Roivant Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $17.15.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV traded up $0.01 on Tuesday, hitting $12.05. The company's stock had a trading volume of 5,354,165 shares, compared to its average volume of 5,702,391. The company has a market capitalization of $8.90 billion, a PE ratio of 2.38 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The company has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $11.04. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $55.10 million for the quarter, compared to analysts' expectations of $30.72 million. During the same quarter last year, the company posted ($0.38) EPS. The business's quarterly revenue was up 155.1% on a year-over-year basis. Sell-side analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS 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.