Retirement Systems of Alabama Trims Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Retirement Systems of Alabama cut its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIVFree Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 512,402 shares of the company’s stock after selling 9,822 shares during the period. Retirement Systems of Alabama’s holdings in Roivant Sciences were worth $5,170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROIV. Norges Bank purchased a new stake in Roivant Sciences during the 4th quarter valued at approximately $52,443,000. Invesco Ltd. raised its stake in Roivant Sciences by 49.7% during the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company’s stock valued at $112,563,000 after acquiring an additional 3,159,603 shares during the last quarter. Vanguard Group Inc. raised its stake in Roivant Sciences by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock valued at $521,553,000 after acquiring an additional 2,404,232 shares during the last quarter. TOMS Capital Investment Management LP raised its stake in Roivant Sciences by 46.6% during the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company’s stock valued at $69,620,000 after acquiring an additional 1,870,000 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Roivant Sciences by 104.4% during the 4th quarter. Marshall Wace LLP now owns 2,946,954 shares of the company’s stock worth $34,862,000 after buying an additional 1,505,062 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ROIV shares. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th. Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th.

Check Out Our Latest Analysis on ROIV

Roivant Sciences Trading Up 0.3%

Shares of ROIV stock opened at $11.54 on Wednesday. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -46.16 and a beta of 1.16. The stock has a 50 day simple moving average of $11.03 and a 200-day simple moving average of $10.93. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06.

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

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 273,959 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 39,799,611 shares of the company’s stock, valued at $456,501,538.17. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $10.95, for a total value of $1,095,000.00. Following the completion of the transaction, the chief operating officer now directly owns 1,077,197 shares of the company’s stock, valued at $11,795,307.15. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,464,462 shares of company stock valued at $39,098,856 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Profile

(Free Report)

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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Institutional Ownership by Quarter for Roivant Sciences (NASDAQ:ROIV)

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