California State Teachers Retirement System Raises Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Institutional ownership increased: California State Teachers Retirement System raised its Roivant Sciences stake by 21.8% to 536,905 shares, while institutional investors and hedge funds collectively own 64.76% of the company.
• ROIV shares fell 3.5% to $39.58 during the reported trading session, despite the stock remaining near its 12-month high of $42.50. Roivant’s latest quarterly loss of $0.26 per share beat estimates, but revenue of $1.44 million missed expectations.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $40.62. However, insiders have sold more than 3 million shares worth $107.3 million over the past three months.

California State Teachers Retirement System grew its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 536,905 shares of the company's stock after purchasing an additional 96,271 shares during the period. California State Teachers Retirement System owned approximately 0.07% of Roivant Sciences worth $19,001,068 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ROIV. VELA Investment Management LLC acquired a new position in shares of Roivant Sciences during the 2nd quarter valued at $207,000. HB Wealth Management LLC grew its stake in shares of Roivant Sciences by 5.1% during the second quarter. HB Wealth Management LLC now owns 11,062 shares of the company's stock valued at $391,000 after purchasing an additional 537 shares during the last quarter. AlphaGrep UK Ltd acquired a new stake in Roivant Sciences during the 2nd quarter worth approximately $451,000. Seven Fleet Capital Management LP increased its position in Roivant Sciences by 71.7% during the second quarter. Seven Fleet Capital Management LP now owns 220,126 shares of the company's stock worth $7,790,000 after acquiring an additional 91,958 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in Roivant Sciences by 336.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 190,938 shares of the company's stock worth $6,757,000 after buying an additional 147,151 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Trading Down 3.5%

ROIV stock traded down $1.45 during midday trading on Tuesday, hitting $39.58. The company's stock had a trading volume of 4,150,583 shares, compared to its average volume of 6,271,889. Roivant Sciences Ltd. has a 12 month low of $13.93 and a 12 month high of $42.50. The company has a market cap of $28.59 billion, a PE ratio of -74.68 and a beta of 1.12. The firm's 50-day moving average is $35.90 and its 200-day moving average is $31.74.

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 the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%.The business had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. Analysts expect that Roivant Sciences Ltd. will post -2 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other news, insider Mayukh Sukhatme sold 284,707 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $36.25, for a total value of $10,320,628.75. Following the transaction, the insider owned 18,630,739 shares of the company's stock, valued at $675,364,288.75. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $53,489,169.08. This represents a 11.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,055,913 shares of company stock worth $107,261,258. 8.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ROIV. Weiss Ratings reiterated a "sell (d-)" rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Guggenheim upped their price objective 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. Bank of America reiterated a "neutral" rating on shares of Roivant Sciences in a report on Friday, July 31st. HC Wainwright boosted their price objective on shares of Roivant Sciences from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Roivant Sciences in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Roivant Sciences has a consensus rating of "Moderate Buy" and an average target price of $40.62.

Roivant Sciences Company Profile

Roivant Sciences Ltd. is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with significant unmet medical needs. The company concentrates on areas including immunology, dermatology, oncology and other specialty conditions, using a combination of internally developed programs, external licensing and strategic acquisitions.

Roivant organizes many of its drug-development activities through subsidiary companies known as “Vants.” These businesses are designed to advance individual therapeutic programs or groups of related assets, while Roivant provides operational, scientific and strategic support.

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