Bank of New York Mellon Corp Raises Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Bank of New York Mellon Corp increased its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,000,181 shares of the company's stock after purchasing an additional 560,641 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of Roivant Sciences worth $40,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. grew its stake in Roivant Sciences by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 18,641 shares of the company's stock worth $188,000 after purchasing an additional 3,356 shares in the last quarter. Penn Davis Mcfarland Inc. lifted its holdings in Roivant Sciences by 3.5% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company's stock worth $17,226,000 after buying an additional 58,206 shares during the period. Fifth Third Bancorp lifted its holdings in Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after buying an additional 1,905 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Roivant Sciences during the first quarter worth $570,000. Finally, GAMMA Investing LLC lifted its holdings in Roivant Sciences by 83.0% during the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after buying an additional 2,945 shares during the period. Institutional investors own 64.76% of the company's stock.

Analyst Ratings Changes

ROIV has been the subject of a number of analyst reports. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th. The Goldman Sachs Group upgraded Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a report on Thursday, July 10th.

Roivant Sciences Trading Down 1.3%

Shares of ROIV traded down $0.16 during midday trading on Friday, hitting $11.50. 2,361,152 shares of the company's stock traded hands, compared to its average volume of 5,729,601. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $13.06. The firm's fifty day moving average is $11.14 and its 200-day moving average is $10.86. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -45.94 and a beta of 1.15.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The business had revenue of $7.57 million for the quarter, compared to analysts' expectations of $62.17 million. During the same quarter in the prior year, the company posted ($0.23) EPS. On average, equities research analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. This trade represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.45, for a total value of $1,145,000.00. Following the completion of the transaction, the chief operating officer owned 1,462,223 shares of the company's stock, valued at $16,742,453.35. This trade represents a 6.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,464,462 shares of company stock valued at $39,098,856. Company insiders own 7.90% of the company's stock.

About Roivant Sciences

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.