Bank of America Corp DE lessened its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,718,269 shares of the company's stock after selling 415,363 shares during the quarter. Bank of America Corp DE owned about 0.24% of Roivant Sciences worth $20,327,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROIV. Russell Investments Group Ltd. boosted its holdings in shares of Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after purchasing an additional 1,948 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Roivant Sciences during the 4th quarter valued at $39,000. PNC Financial Services Group Inc. raised its position in Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock valued at $84,000 after purchasing an additional 1,507 shares in the last quarter. Wells Fargo & Company MN raised its position in Roivant Sciences by 84.1% during the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $89,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Roivant Sciences by 550.1% during the 4th quarter. Blue Trust Inc. now owns 7,879 shares of the company's stock valued at $91,000 after purchasing an additional 6,667 shares in the last quarter. Institutional investors own 64.76% of the company's stock.
Insider Buying and Selling at Roivant Sciences
In related news, major shareholder Vivek Ramaswamy sold 273,959 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total value of $3,142,309.73. Following the completion of the sale, the insider now owns 39,799,611 shares of the company's stock, valued at approximately $456,501,538.17. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.22, for a total value of $1,022,000.00. Following the transaction, the chief operating officer now owns 1,116,345 shares of the company's stock, valued at approximately $11,409,045.90. This represents a 8.22% 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 $13,450,035 over the last quarter. 7.90% of the stock is currently owned by insiders.
Roivant Sciences Price Performance
NASDAQ ROIV traded down $0.07 during trading hours on Friday, reaching $10.87. The company's stock had a trading volume of 2,442,270 shares, compared to its average volume of 5,579,306. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of -72.46 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. The company's 50-day moving average is $10.53 and its two-hundred day moving average is $11.05.
Wall Street Analysts Forecast Growth
ROIV has been the subject of a number of research analyst reports. Cantor Fitzgerald raised Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Monday, April 21st.
Check Out Our Latest Analysis on Roivant Sciences
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.
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