Bank of America Corp DE lessened its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,718,269 shares of the company's stock after selling 415,363 shares during the period. Bank of America Corp DE owned approximately 0.24% of Roivant Sciences worth $20,327,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Treasurer of the State of North Carolina raised its stake in shares of Roivant Sciences by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company's stock valued at $2,213,000 after acquiring an additional 1,170 shares in the last quarter. WINTON GROUP Ltd increased its holdings in Roivant Sciences by 1.5% during the 4th quarter. WINTON GROUP Ltd now owns 92,526 shares of the company's stock worth $1,095,000 after purchasing an additional 1,332 shares during the period. Covestor Ltd raised its position in Roivant Sciences by 7.5% in the 4th quarter. Covestor Ltd now owns 20,634 shares of the company's stock valued at $245,000 after purchasing an additional 1,444 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Roivant Sciences by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock valued at $84,000 after buying an additional 1,507 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Roivant Sciences by 6.1% in the 4th quarter. Victory Capital Management Inc. now owns 27,494 shares of the company's stock valued at $325,000 after buying an additional 1,588 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on ROIV shares. Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Monday, April 21st.
Read Our Latest Stock Report on Roivant Sciences
Insider Activity at Roivant Sciences
In related news, major shareholder Vivek Ramaswamy sold 273,959 shares of Roivant Sciences stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the sale, the insider now directly owns 39,799,611 shares in the company, valued at $456,501,538.17. This trade represents a 0.68% 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, COO Eric Venker sold 100,000 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the sale, the chief operating officer now directly owns 896,869 shares of the company's stock, valued at approximately $9,551,654.85. This trade represents a 10.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,223,959 shares of company stock valued at $13,420,035 over the last three months. 7.90% of the stock is owned by corporate insiders.
Roivant Sciences Price Performance
Shares of NASDAQ ROIV opened at $10.84 on Tuesday. The business has a 50-day moving average of $10.51 and a two-hundred day moving average of $11.07. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of -72.26 and a beta of 1.23. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $13.06.
About Roivant Sciences
(
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.
Further Reading
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