Edge Wealth Management LLC Sells 9,300 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Edge Wealth Management LLC lowered its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,228 shares of the company’s stock after selling 9,300 shares during the quarter. Edge Wealth Management LLC’s holdings in Roivant Sciences were worth $951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ROIV. Rubric Capital Management LP boosted its stake in Roivant Sciences by 81.0% during the 4th quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock valued at $213,370,000 after purchasing an additional 8,500,000 shares during the last quarter. Morgan Stanley boosted its holdings in Roivant Sciences by 48.7% during the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock worth $225,560,000 after acquiring an additional 6,324,915 shares during the last quarter. Norges Bank bought a new stake in Roivant Sciences in the 4th quarter worth about $41,506,000. Vanguard Group Inc. lifted its holdings in Roivant Sciences by 159.1% during the third quarter. Vanguard Group Inc. now owns 5,602,566 shares of the company’s stock worth $65,438,000 after acquiring an additional 3,440,374 shares during the period. Finally, First Trust Advisors LP grew its position in Roivant Sciences by 434.8% during the fourth quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock valued at $30,764,000 after buying an additional 2,227,192 shares during the period. Institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ROIV shares. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Friday, May 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial reaffirmed a “buy” rating and issued a $23.00 price target on shares of Roivant Sciences in a report on Monday, March 25th. The Goldman Sachs Group boosted their price objective on Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.90.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV traded up $0.06 during trading on Friday, reaching $10.63. The company had a trading volume of 199,892 shares, compared to its average volume of 6,045,368. Roivant Sciences Ltd. has a 12 month low of $8.24 and a 12 month high of $13.24. The company has a current ratio of 25.24, a quick ratio of 25.24 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.85 billion, a P/E ratio of 2.09 and a beta of 1.25. The company has a fifty day moving average of $10.94 and a two-hundred day moving average of $10.88.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Roivant Sciences had a negative return on equity of 25.05% and a net margin of 3,484.86%. The business had revenue of $28.93 million for the quarter, compared to the consensus estimate of $32.46 million. Equities research analysts forecast that Roivant Sciences Ltd. will post -1.12 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.