Fidelity Management & Research Co recently announced the acquisition of new stake in Roivant Sciences Ltd (NASDAQ:ROIV). The institutional investor has increased its shareholding in the Healthcare company by 8.10% to 38.88 million shares with purchase of 2.91 million shares. This fresh investment now brings its stake to 4.84% valued currently at $371.72 million. In addition, Morgan Stanley Investment Managem raised its holdings by 6.0 million to 17.77 million shares. And BlackRock Fund Advisors has lifted its position by 50.83% or 5.49 million shares – to 16.28 million shares.
With over 6.01 million Roivant Sciences Ltd (ROIV) shares trading Tuesday and a closing price of $11.35 on the day, the dollar volume was approximately $68.23 million. The shares have shown a positive half year performance of 2.34% and its price on 01/09/24 lost nearly -0.79%. Currently, there are 760.14M common shares owned by the public and among those 549.67M shares have been available to trade.
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Shares of Roivant Sciences Ltd (NASDAQ: ROIV) opened at $11.35, down -$0.09 from a prior closing price of $11.44. However, the script later moved the day high at 11.71, down -0.79%. The company’s stock has a 5-day price change of 0.00% and 6.77% over the past three months. ROIV shares are trading 1.07% year to date (YTD), with the 12-month market performance up to 22.70% higher. It has a 12-month low price of $6.59 and touched a high of $13.24 over the same period. ROIV has an average intraday trading volume of 5.85 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.27%, 15.67%, and 14.22% respectively.
Institutional ownership of Roivant Sciences Ltd (NASDAQ: ROIV) shares accounts for 56.32% of the company’s 760.14M shares outstanding. Mutual fund holders own 42.78%, while other institutional holders and individual stakeholders account for 52.11% and 13.54% respectively.
It has a market capitalization of $9.12B and a beta (3y monthly) value of 1.35. The earnings-per-share (ttm) stands at -$1.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.36% over the week and 4.11% over the month.
Analysts forecast that Roivant Sciences Ltd (ROIV) will achieve an EPS of $0.6 for the current quarter, -$0.32 for the next quarter and -$1.16 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.38 while analysts give the company a high EPS estimate of $6.1. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -16.99%, and 15.48% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Roivant Sciences Ltd (ROIV) as a “Strong Buy” at a consensus score of 1.17. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 1 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ROIV, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on January 05, 2024, with the firm’s price target at $20.
