Pekin Hardy Strauss Inc. Makes New Investment in Roivant Sciences Ltd. (NASDAQ:ROIV)

Pekin Hardy Strauss Inc. acquired a new position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 54,050 shares of the company's stock, valued at approximately $571,000.

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

Roivant Sciences Price Performance

ROIV stock traded down $0.05 during mid-day trading on Wednesday, hitting $12.00. The company had a trading volume of 14,961,954 shares, compared to its average volume of 5,753,832. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 2.37 and a beta of 1.25. The company has a 50-day moving average price of $11.43 and a 200 day moving average price of $11.05. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month 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, topping the consensus estimate of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The business had revenue of $55.10 million for the quarter, compared to analysts' expectations of $30.72 million. During the same period in the prior year, the firm earned ($0.38) EPS. The company's revenue for the quarter was up 155.1% on a year-over-year basis. On average, research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ROIV has been the topic of a number of recent analyst reports. Bank of America raised 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 raised their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, July 10th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently 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.