Allspring Global Investments Holdings LLC Sells 115,694 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Allspring Global Investments Holdings LLC cut its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 88.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,937 shares of the company's stock after selling 115,694 shares during the period. Allspring Global Investments Holdings LLC's holdings in Roivant Sciences were worth $172,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Roivant Sciences during the second quarter worth $34,000. Point72 Hong Kong Ltd bought a new stake in shares of Roivant Sciences in the 2nd quarter valued at about $36,000. Quarry LP bought a new stake in shares of Roivant Sciences in the 2nd quarter valued at about $53,000. Acadian Asset Management LLC acquired a new stake in shares of Roivant Sciences in the first quarter valued at about $72,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Roivant Sciences during the second quarter worth about $101,000. 64.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Rakhi Kumar sold 250,000 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares in the company, valued at $2,488,838.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the completion of the sale, the chief accounting officer now directly owns 209,322 shares of the company's stock, valued at approximately $2,488,838.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the transaction, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,577,309 shares of company stock worth $42,151,184 over the last three months. 7.90% of the stock is currently owned by insiders.

Roivant Sciences Stock Down 1.3 %

NASDAQ:ROIV traded down $0.15 on Monday, hitting $11.53. The stock had a trading volume of 3,328,308 shares, compared to its average volume of 5,870,928. 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 52 week low of $8.47 and a 52 week high of $13.06. The business's fifty day moving average is $11.82 and its 200 day moving average is $11.26. The company has a market cap of $8.53 billion, a PE ratio of 2.10 and a beta of 1.24.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) 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 business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $30.72 million. During the same quarter last year, the firm posted ($0.38) EPS. Roivant Sciences's revenue was up 155.1% compared to the same quarter last year. On average, equities research analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ROIV. Bank of America increased 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, September 11th. Cantor Fitzgerald reissued an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Piper Sandler increased their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, July 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Thursday, September 19th. One 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 presently has an average rating of "Moderate Buy" and a consensus price target of $17.39.

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.