State of New Jersey Common Pension Fund D Buys 59,553 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

State of New Jersey Common Pension Fund D lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,303 shares of the company’s stock after acquiring an additional 59,553 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Roivant Sciences were worth $3,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. EFG Asset Management Americas Corp. grew its stake in shares of Roivant Sciences by 20.7% during the 4th quarter. EFG Asset Management Americas Corp. now owns 101,315 shares of the company’s stock valued at $1,138,000 after acquiring an additional 17,379 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Roivant Sciences by 26.9% during the 4th quarter. Handelsbanken Fonder AB now owns 103,909 shares of the company’s stock valued at $1,167,000 after acquiring an additional 22,000 shares during the period. abrdn plc bought a new position in shares of Roivant Sciences during the 4th quarter valued at approximately $12,656,000. VELA Investment Management LLC grew its stake in shares of Roivant Sciences by 8.8% during the 4th quarter. VELA Investment Management LLC now owns 32,386 shares of the company’s stock valued at $364,000 after acquiring an additional 2,621 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Roivant Sciences by 23.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 150,363 shares of the company’s stock valued at $1,689,000 after acquiring an additional 28,504 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROIV. Deutsche Bank Aktiengesellschaft boosted their price objective on Roivant Sciences from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Monday, April 22nd. TheStreet raised Roivant Sciences from a “d” rating to a “c+” rating in a report on Tuesday, February 13th. The Goldman Sachs Group upped their price objective on Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Bank of America upped their price objective on Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.90.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $11.03 on Friday. The company has a market cap of $8.89 billion, a P/E ratio of 2.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. The business’s 50 day moving average price is $10.92 and its 200-day moving average price is $10.37. Roivant Sciences Ltd. has a fifty-two week low of $8.06 and a fifty-two week high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate 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%. Sell-side analysts predict that Roivant Sciences Ltd. will post -1.36 earnings per share for the current year.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $10.92, for a total value of $1,058,694.00. Following the transaction, the chief operating officer now owns 532,207 shares of the company’s stock, valued at approximately $5,811,700.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is currently owned by corporate 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.