974,130 Shares of Roivant Sciences Ltd. $ROIV Acquired by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group acquired 974,130 Roivant Sciences shares in the third quarter, valued at about $35.6 million and equal to roughly 0.13% of the company. Institutional investors collectively own 64.76% of the stock.
• Analysts give Roivant a “Moderate Buy” consensus rating, with an average price target of $46.55; several firms recently raised their targets.
• Company insiders sold 1.82 million shares worth about $66.2 million over the past three months; insiders currently own 8.8% of the stock.

Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 974,130 shares of the company's stock, valued at approximately $35,624,000. Sumitomo Mitsui Trust Group Inc. owned approximately 0.13% of Roivant Sciences as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Roivant Sciences during the second quarter valued at $2,166,000. Squarepoint Ops LLC purchased a new position in shares of Roivant Sciences during the 2nd quarter worth $16,830,000. Arizona State Retirement System lifted its position in Roivant Sciences by 24.4% during the second quarter. Arizona State Retirement System now owns 128,364 shares of the company's stock valued at $4,543,000 after purchasing an additional 25,199 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Roivant Sciences in the first quarter worth about $3,957,000. Finally, Bank of America Corp DE boosted its position 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 worth $87,638,000 after purchasing an additional 235,493 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup lifted their price objective on shares of Roivant Sciences from $46.00 to $56.00 and gave the stock a "buy" rating in a research note on Wednesday, October 28th. HC Wainwright upped their price objective on Roivant Sciences from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a report on Thursday, September 24th. Jefferies Financial Group increased their target price on Roivant Sciences from $42.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. 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. According to data from MarketBeat.com, Roivant Sciences presently has an average rating of "Moderate Buy" and an average price target of $46.55.

Insider Buying and Selling

In related news, insider Mayukh Sukhatme sold 144,756 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $36.48, for a total transaction of $5,280,698.88. Following the sale, the insider owned 18,630,739 shares of the company's stock, valued at approximately $679,649,358.72. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Melissa B. Epperly sold 17,750 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $36.10, for a total value of $640,775.00. Following the sale, the director directly owned 14,954 shares in the company, valued at approximately $539,839.40. The trade was a 54.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,822,688 shares of company stock valued at $66,176,636 over the last three months. 8.80% of the stock is currently owned by company insiders.

Roivant Sciences Price Performance

NASDAQ:ROIV opened at $38.23 on Thursday. Roivant Sciences Ltd. has a 12 month low of $19.61 and a 12 month high of $42.50. The business's fifty day moving average price is $36.67 and its 200 day moving average price is $31.66.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. The firm had revenue of $1.44 million during the quarter, compared to analysts' expectations 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, equities research analysts predict that Roivant Sciences Ltd. will post -2.00 EPS for the current year.

About Roivant Sciences

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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