abrdn plc Makes New $12.66 Million Investment in Roivant Sciences Ltd. (NASDAQ:ROIV)

abrdn plc purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,126,987 shares of the company’s stock, valued at approximately $12,656,000. abrdn plc owned 0.14% of Roivant Sciences at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirabella Financial Services LLP raised its holdings in Roivant Sciences by 4.1% during the 3rd quarter. Mirabella Financial Services LLP now owns 34,583 shares of the company’s stock worth $404,000 after buying an additional 1,362 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Roivant Sciences by 42.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company’s stock worth $60,000 after purchasing an additional 1,608 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Roivant Sciences by 16.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 15,782 shares of the company’s stock valued at $184,000 after purchasing an additional 2,258 shares during the period. VELA Investment Management LLC raised its stake in shares of Roivant Sciences by 8.8% in the 4th quarter. VELA Investment Management LLC now owns 32,386 shares of the company’s stock valued at $364,000 after purchasing an additional 2,621 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Roivant Sciences in the 4th quarter valued at about $33,000. Institutional investors own 64.76% of the company’s stock.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 96,950 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the sale, the chief operating officer now owns 532,207 shares in the company, valued at $5,811,700.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

ROIV has been the topic of several recent research reports. Bank of America lifted their price target on Roivant Sciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, January 2nd. TheStreet raised Roivant Sciences from a “d” rating to a “c+” rating in a research report on Tuesday, February 13th. Piper Sandler assumed coverage on Roivant Sciences in a research report on Friday, January 5th. They issued an “overweight” rating and a $20.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and issued a $23.00 target price on shares of Roivant Sciences in a research report on Monday, March 25th. Finally, Wolfe Research assumed coverage on Roivant Sciences in a research report on Thursday, February 15th. They issued an “outperform” rating and a $17.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.90.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $10.88 on Friday. The business’s 50 day moving average price is $10.93 and its two-hundred day moving average price is $10.36. The company has a market cap of $8.77 billion, a PE ratio of 2.09 and a beta of 1.34. The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06. Roivant Sciences Ltd. has a twelve month low of $8.06 and a twelve month high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. The firm had revenue of $37.14 million for the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. On average, analysts predict that Roivant Sciences Ltd. will post -1.36 EPS for the current year.

About Roivant Sciences

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.