162,400 Shares in Roivant Sciences Ltd. $ROIV Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc. purchased 162,400 shares of Roivant Sciences, valued at approximately $1,830,000, signaling increased institutional interest in the company.
• Major shareholder Vivek Ramaswamy sold 1,195,000 shares at an average price of $12.50, resulting in a 3.21% decrease in his ownership of the stock.
• Analysts have set new price targets for Roivant Sciences, with Jefferies Financial Group raising its target from $18.00 to $20.00 and Goldman Sachs from $20.00 to $24.00, reflecting a positive outlook on the company.

TD Asset Management Inc bought a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 162,400 shares of the company's stock, valued at approximately $1,830,000.

A number of other institutional investors have also added to or reduced their stakes in ROIV. CWM LLC grew its position in Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company's stock worth $34,000 after buying an additional 920 shares in the last quarter. Russell Investments Group Ltd. grew its position in Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after buying an additional 2,233 shares in the last quarter. GAMMA Investing LLC grew its position in Roivant Sciences by 83.0% during the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after buying an additional 2,945 shares in the last quarter. UMB Bank n.a. boosted its holdings in Roivant Sciences by 42.0% during the second quarter. UMB Bank n.a. now owns 5,883 shares of the company's stock valued at $66,000 after purchasing an additional 1,740 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Roivant Sciences by 44.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the company's stock valued at $103,000 after purchasing an additional 3,169 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Price Performance

Shares of ROIV opened at $17.87 on Wednesday. The company has a market capitalization of $12.20 billion, a P/E ratio of -25.53 and a beta of 1.20. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $18.06. The business's 50 day simple moving average is $14.23 and its 200-day simple moving average is $12.13.

Insider Activity at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total value of $14,937,500.00. Following the transaction, the insider directly owned 36,089,108 shares of the company's stock, valued at $451,113,850. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Venker sold 683,818 shares of the business's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $14.95, for a total value of $10,223,079.10. Following the completion of the transaction, the chief executive officer directly owned 1,969,767 shares in the company, valued at $29,448,016.65. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,228,958 shares of company stock worth $76,447,638 over the last three months. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROIV has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Roivant Sciences in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on Roivant Sciences from $20.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Leerink Partners lifted their price objective on Roivant Sciences from $18.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Finally, Guggenheim lifted their price objective on Roivant Sciences from $15.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Roivant Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.94.

About 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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