Mutual of America Capital Management LLC lessened its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 39.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,680 shares of the company's stock after selling 142,139 shares during the quarter. Mutual of America Capital Management LLC's holdings in Roivant Sciences were worth $2,186,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after buying an additional 1,108 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in 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 during the last quarter. WINTON GROUP Ltd lifted its position in Roivant Sciences by 1.5% in the fourth quarter. WINTON GROUP Ltd now owns 92,526 shares of the company's stock valued at $1,095,000 after purchasing an additional 1,332 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Roivant Sciences by 7.5% during the fourth quarter. Covestor Ltd now owns 20,634 shares of the company's stock worth $245,000 after purchasing an additional 1,444 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Roivant Sciences by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock worth $84,000 after buying an additional 1,507 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Roivant Sciences news, COO Eric Venker sold 566,278 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the transaction, the chief operating officer owned 1,462,223 shares of the company's stock, valued at approximately $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the transaction, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,464,462 shares of company stock valued at $39,098,856. 7.90% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on ROIV shares. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a research note on Thursday, July 10th. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th.
Check Out Our Latest Research Report on ROIV
Roivant Sciences Price Performance
Shares of Roivant Sciences stock traded down $0.21 during midday trading on Friday, reaching $11.44. The company had a trading volume of 4,929,187 shares, compared to its average volume of 5,745,151. The stock has a fifty day moving average price of $11.16 and a 200 day moving average price of $10.85. The firm has a market cap of $7.78 billion, a PE ratio of -45.76 and a beta of 1.15. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The company had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. During the same quarter in the previous year, the business earned ($0.23) earnings per share. As a group, sell-side analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.
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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