201,261 Shares of Roivant Sciences Ltd. $ROIV Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One acquired 201,261 Roivant Sciences shares worth approximately $7.36 million during the third quarter. Institutional investors collectively own 64.76% of the company.
• Roivant shares opened at $36.91, with a 12-month range of $19.30 to $42.50. The company reported a quarterly loss of $0.26 per share, better than the $0.30 expected, but revenue of $1.44 million missed estimates.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $46.55. However, insiders sold 1.82 million shares worth about $66.2 million over the past three months.

Asset Management One Co. Ltd. purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 201,261 shares of the company's stock, valued at approximately $7,360,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in shares of Roivant Sciences by 18.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock valued at $295,965,000 after acquiring an additional 1,286,464 shares during the last quarter. Perceptive Advisors LLC lifted its stake in Roivant Sciences by 3.8% during the 1st quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company's stock worth $229,507,000 after acquiring an additional 300,000 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Roivant Sciences by 8.0% in the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company's stock valued at $87,638,000 after buying an additional 235,493 shares in the last quarter. Janus Henderson Group PLC lifted its position in Roivant Sciences by 6.1% during the first quarter. Janus Henderson Group PLC now owns 3,095,448 shares of the company's stock valued at $85,790,000 after buying an additional 177,339 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Roivant Sciences by 26.7% in the 1st quarter. Jennison Associates LLC now owns 2,982,799 shares of the company's stock valued at $82,624,000 after buying an additional 629,413 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Stock Performance

ROIV stock opened at $36.91 on Monday. Roivant Sciences Ltd. has a 12-month low of $19.30 and a 12-month high of $42.50. The stock has a 50-day moving average price of $36.65 and a two-hundred day moving average price of $31.46. The company has a market cap of $26.66 billion, a PE ratio of -69.64 and a beta of 1.23.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. Equities analysts forecast that Roivant Sciences Ltd. will post -2.00 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ROIV shares. Sanford C. Bernstein upgraded shares of Roivant Sciences to a "strong-buy" rating in a research note on Wednesday, July 29th. Stifel Nicolaus started coverage on Roivant Sciences in a research note on Wednesday, September 16th. They issued a "buy" rating and a $51.00 price objective for the company. TD Cowen reiterated a "buy" rating on shares of Roivant Sciences in a report on Wednesday, October 21st. Wolfe Research lowered shares of Roivant Sciences from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $46.55.

Insiders Place Their Bets

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the company's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the completion of the sale, the chief executive officer directly owned 1,399,154 shares of the company's stock, valued at approximately $49,124,296.94. This represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Melissa B. Epperly sold 17,750 shares of Roivant Sciences stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $36.10, for a total value of $640,775.00. Following the transaction, the director owned 14,954 shares in the company, valued at approximately $539,839.40. This represents a 54.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,822,688 shares of company stock valued at $66,176,636. 8.80% of the stock is currently owned by insiders.

Roivant Sciences Profile

Roivant Sciences Ltd. NASDAQ: ROIV is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant's research and development activities have included immunology, dermatology, women's health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.

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