Raymond James Financial Inc. Purchases New Position in Roivant Sciences Ltd. (NASDAQ:ROIV)
Raymond James Financial Inc. bought a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 84,091 shares of the company's stock, valued at approximately $995,000.
Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Roivant Sciences by 10.8% in the third quarter. The Manufacturers Life Insurance Company now owns 356,600 shares of the company's stock worth $4,115,000 after acquiring an additional 34,641 shares during the period. MetLife Investment Management LLC raised its position in shares of Roivant Sciences by 26.3% during the 3rd quarter. MetLife Investment Management LLC now owns 225,320 shares of the company's stock worth $2,600,000 after purchasing an additional 46,879 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Roivant Sciences by 49.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,307,178 shares of the company's stock valued at $26,625,000 after buying an additional 762,953 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Roivant Sciences during the 3rd quarter worth $557,000. Finally, Integrated Wealth Concepts LLC lifted its position in Roivant Sciences by 3.9% during the third quarter. Integrated Wealth Concepts LLC now owns 246,537 shares of the company's stock worth $2,845,000 after buying an additional 9,164 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ROIV opened at $10.01 on Friday. The company has a fifty day moving average of $10.65 and a two-hundred day moving average of $11.35. Roivant Sciences Ltd. has a 1 year low of $9.76 and a 1 year high of $13.06. The company has a market capitalization of $7.14 billion, a PE ratio of -66.73 and a beta of 1.26.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. On average, research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.
In related news, CAO Rakhi Kumar sold 227,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the sale, the chief accounting officer now owns 163,264 shares of the company's stock, valued at approximately $1,702,843.52. This represents a 58.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric Venker sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the sale, the chief operating officer now owns 732,294 shares of the company's stock, valued at approximately $8,260,276.32. This represents a 12.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,395,541 shares of company stock valued at $15,028,538 over the last quarter. Corporate insiders own 7.90% of the company's stock.
Several equities analysts have weighed in on ROIV shares. Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Tuesday, February 11th.
Check Out Our Latest Analysis on 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.
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