BTS Asset Management Inc. Takes Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

BTS Asset Management Inc. acquired a new position in Roivant Sciences Ltd. (NASDAQ:ROIV) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,980 shares of the company’s stock, valued at approximately $450,000. Roivant Sciences accounts for approximately 0.4% of BTS Asset Management Inc.’s portfolio, making the stock its 16th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its stake in Roivant Sciences by 0.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock worth $3,457,000 after purchasing an additional 1,142 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Roivant Sciences by 23.2% in the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock worth $89,000 after purchasing an additional 1,603 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Roivant Sciences in the second quarter worth about $34,000. DNB Asset Management AS boosted its stake in Roivant Sciences by 6.4% during the second quarter. DNB Asset Management AS now owns 56,022 shares of the company’s stock valued at $592,000 after buying an additional 3,386 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Roivant Sciences during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, Director Financial Lp Qvt sold 876,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $11.82, for a total value of $10,354,320.00. Following the sale, the director now owns 22,179,358 shares in the company, valued at $262,160,011.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Financial Lp Qvt sold 876,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $11.82, for a total value of $10,354,320.00. Following the transaction, the director now directly owns 22,179,358 shares in the company, valued at approximately $262,160,011.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $11.65, for a total transaction of $1,165,000.00. Following the completion of the transaction, the chief operating officer now directly owns 617,470 shares in the company, valued at $7,193,525.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,577,309 shares of company stock worth $42,151,184 in the last quarter. 4.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROIV. Bank of America upped their price objective on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Piper Sandler upped their price target 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.39.

Roivant Sciences Price Performance

ROIV stock opened at $11.62 on Thursday. The stock has a market cap of $8.58 billion, a PE ratio of 2.30 and a beta of 1.24. Roivant Sciences Ltd. has a 12 month low of $8.24 and a 12 month high of $13.06. The company has a 50-day moving average price of $11.79 and a 200 day moving average price of $11.22. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05.

Roivant Sciences (NASDAQ:ROIV) last announced its 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 negative return on equity of 17.23% and a net margin of 2,991.75%. The business had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. During the same quarter in the previous year, the business earned ($0.38) earnings per share. The company’s revenue for the quarter was up 155.1% compared to the same quarter last year. Equities research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share 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.