42,379 Shares in Roivant Sciences Ltd. $ROIV Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 42,379 Roivant Sciences shares in the third quarter, worth approximately $1.55 million. Institutional investors and hedge funds collectively own 64.76% of the stock.
• Roivant insiders sold about 2.02 million shares worth $73.4 million over the past 90 days; the CEO’s 200,000-share sale and a director’s 17,750-share sale were made under pre-arranged trading plans.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $46.55. Roivant’s latest quarterly loss per share was narrower than expected, though revenue fell short of estimates.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 42,379 shares of the company's stock, valued at approximately $1,550,000.

A number of other hedge funds have also modified their holdings of ROIV. Wellington Management Group LLP grew its stake in Roivant Sciences by 179.0% in the second quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company's stock valued at $95,124,000 after purchasing an additional 1,724,588 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Roivant Sciences during the 1st quarter valued at about $45,066,000. Assenagon Asset Management S.A. lifted its holdings 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 buying an additional 1,286,464 shares during the last quarter. Affinity Asset Advisors LLC grew its stake in shares of Roivant Sciences by 64.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 2,800,000 shares of the company's stock valued at $77,560,000 after buying an additional 1,100,000 shares in the last quarter. Finally, California Public Employees Retirement System bought a new stake in shares of Roivant Sciences in the 1st quarter valued at approximately $19,154,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, Director Melissa Epperly sold 17,750 shares of the company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $36.10, for a total transaction of $640,775.00. Following the completion of the sale, the director directly owned 14,954 shares in the company, valued at $539,839.40. This represents a 54.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $36.31, for a total value of $7,262,000.00. Following the completion of the transaction, the chief executive officer owned 999,154 shares in the company, valued at $36,279,281.74. The trade was a 16.68% 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. Insiders sold 2,022,688 shares of company stock worth $73,438,636 over the last ninety days. Company insiders own 8.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ROIV. Guggenheim raised their price target on shares of Roivant Sciences from $42.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Wolfe Research cut shares of Roivant Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, October 12th. Citigroup increased their target price on shares of Roivant Sciences from $46.00 to $56.00 and gave the stock a "buy" rating in a research report on Wednesday, October 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Roivant Sciences in a report on Wednesday, August 19th. Finally, Sanford C. Bernstein upgraded Roivant Sciences to a "strong-buy" rating in a report on Wednesday, July 29th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.55.

Roivant Sciences Trading Up 6.2%

Shares of Roivant Sciences stock opened at $38.88 on Friday. The firm has a fifty day simple moving average of $36.69 and a 200-day simple moving average of $31.80. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of -73.36 and a beta of 1.23. Roivant Sciences Ltd. has a 1-year low of $19.79 and a 1-year high of $42.50.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.04. The business had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. As a group, research analysts predict that Roivant Sciences Ltd. will post -2.00 earnings per share for the current year.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.

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