Penn Davis Mcfarland Inc. Cuts Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Penn Davis Mcfarland Inc. trimmed its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,631,919 shares of the company’s stock after selling 8,206 shares during the period. Roivant Sciences comprises about 2.7% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 19th biggest position. Penn Davis Mcfarland Inc.’s holdings in Roivant Sciences were worth $17,249,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Roivant Sciences during the 4th quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Roivant Sciences by 42.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company’s stock worth $60,000 after buying an additional 1,608 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Roivant Sciences in the first quarter worth $72,000. ORG Partners LLC bought a new position in shares of Roivant Sciences during the second quarter worth $106,000. Finally, Premier Path Wealth Partners LLC purchased a new position in Roivant Sciences during the first quarter valued at $126,000. Institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

ROIV has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Monday. Piper Sandler increased their price target on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Tuesday, June 18th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.10.

Roivant Sciences Trading Up 1.1 %

Shares of Roivant Sciences stock traded up $0.12 on Monday, reaching $11.31. The company had a trading volume of 1,127,361 shares, compared to its average volume of 5,749,136. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 25.24 and a quick ratio of 25.24. The firm’s 50-day moving average price is $10.85 and its two-hundred day moving average price is $10.91. Roivant Sciences Ltd. has a 1 year low of $8.24 and a 1 year high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a net margin of 3,484.86% and a negative return on equity of 25.05%. The firm’s revenue was up 155.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) EPS. As a group, research analysts predict that Roivant Sciences Ltd. will post -1.12 earnings per share 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.