Penn Davis Mcfarland Inc. Acquires 58,206 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Penn Davis Mcfarland Inc. lifted its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 3.5% during the 1st quarter, Holdings Channel reports. The firm owned 1,707,232 shares of the company’s stock after purchasing an additional 58,206 shares during the quarter. Roivant Sciences comprises 2.0% of Penn Davis Mcfarland Inc.’s holdings, making the stock its 18th largest position. Penn Davis Mcfarland Inc.’s holdings in Roivant Sciences were worth $17,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ROIV. Parallel Advisors LLC boosted its holdings in Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after acquiring an additional 1,108 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Roivant Sciences by 478.6% in the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after acquiring an additional 1,948 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Roivant Sciences in the fourth quarter worth approximately $39,000. UMB Bank n.a. boosted its holdings in Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Up 0.3%

ROIV stock opened at $11.54 on Wednesday. The firm has a market capitalization of $7.85 billion, a PE ratio of -46.16 and a beta of 1.16. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The stock’s 50 day moving average is $11.03 and its 200-day moving average is $10.93.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). The company had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, equities research analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ROIV. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, June 18th.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 273,959 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total value of $3,142,309.73. Following the completion of the sale, the insider now directly owns 39,799,611 shares of the company’s stock, valued at approximately $456,501,538.17. This represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Eric Venker sold 100,000 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.45, for a total value of $1,145,000.00. Following the completion of the sale, the chief operating officer now directly owns 1,462,223 shares of the company’s stock, valued at $16,742,453.35. The trade was a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,464,462 shares of company stock valued at $39,098,856. 7.90% of the stock is owned by insiders.

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.