Magnetar Financial LLC Acquires Shares of 149,489 Roivant Sciences Ltd. (NASDAQ:ROIV)

Magnetar Financial LLC acquired a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) in the first quarter, Holdings Channel reports. The firm acquired 149,489 shares of the company’s stock, valued at approximately $1,576,000.

Other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Roivant Sciences during the fourth quarter valued at $36,000. Allspring Global Investments Holdings LLC raised its stake 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 purchasing an additional 1,608 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Roivant Sciences in the first quarter worth $72,000. Premier Path Wealth Partners LLC purchased a new position in shares of Roivant Sciences in the first quarter worth $126,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Roivant Sciences in the fourth quarter worth $170,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ:ROIV traded up $0.06 during mid-day trading on Friday, hitting $10.80. 3,579,769 shares of the company traded hands, compared to its average volume of 4,771,108. The stock’s fifty day moving average price is $10.86 and its 200-day moving average price is $10.88. Roivant Sciences Ltd. has a one year low of $8.24 and a one year high of $13.24. The company has a quick ratio of 25.24, a current ratio of 25.24 and a debt-to-equity ratio of 0.07. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 2.13 and a beta of 1.24.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $32.46 million. Research analysts anticipate that Roivant Sciences Ltd. will post -1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROIV. The Goldman Sachs Group boosted their price target on Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Piper Sandler boosted their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Friday, May 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Roivant Sciences currently has an average rating of “Moderate Buy” and an average price target of $17.10.

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.