California State Teachers Retirement System Has $672.45 Million Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• CalSTRS increased its Roivant Sciences stake by 4,212.2% in the second quarter, adding 18.56 million shares to hold 19.0 million shares worth approximately $672.45 million, or 2.63% of the company.
• Roivant shares opened at $40.82, near their 52-week high of $42.50. The company beat quarterly EPS expectations but missed revenue estimates and continues to report negative profitability.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and several firms raising price targets to between $47 and $55; however, insiders sold more than 3.05 million shares worth $107.3 million over the past three months.

California State Teachers Retirement System lifted its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 4,212.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,001,068 shares of the company's stock after acquiring an additional 18,560,434 shares during the period. California State Teachers Retirement System owned approximately 2.63% of Roivant Sciences worth $672,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Roivant Sciences by 15.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company's stock worth $24,553,000 after purchasing an additional 324,764 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Roivant Sciences by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company's stock worth $24,678,000 after buying an additional 34,341 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Roivant Sciences by 1.9% during the second quarter. American Century Companies Inc. now owns 89,625 shares of the company's stock worth $1,010,000 after buying an additional 1,689 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Roivant Sciences by 149.9% during the second quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company's stock worth $129,000 after buying an additional 6,879 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company's stock valued at $144,000 after acquiring an additional 1,181 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $40.82 on Monday. Roivant Sciences Ltd. has a 52 week low of $13.81 and a 52 week high of $42.50. The company's 50 day moving average price is $35.79 and its two-hundred day moving average price is $31.65. The stock has a market cap of $29.49 billion, a P/E ratio of -77.02 and a beta of 1.12.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. On average, equities analysts anticipate that Roivant Sciences Ltd. will post -2 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In other news, insider Mayukh Sukhatme sold 284,707 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the completion of the sale, the insider owned 18,630,739 shares in the company, valued at $675,364,288.75. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Gold sold 800,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $34.55, for a total value of $27,640,000.00. Following the transaction, the director directly owned 13,701,546 shares of the company's stock, valued at approximately $473,388,414.30. This trade represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,055,913 shares of company stock worth $107,261,258 over the last three months. 8.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. UBS Group set a $55.00 price target on Roivant Sciences in a research note on Wednesday. Sanford C. Bernstein raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Tuesday, August 25th. Finally, HC Wainwright upped their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.62.

Roivant Sciences 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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