Mutual of America Capital Management LLC trimmed its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 39.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,680 shares of the company's stock after selling 142,139 shares during the period. Mutual of America Capital Management LLC's holdings in Roivant Sciences were worth $2,186,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in shares of Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after buying an additional 1,108 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after buying an additional 1,948 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Roivant Sciences in the 4th quarter valued at about $39,000. UMB Bank n.a. lifted its position in shares of Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after purchasing an additional 2,195 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Roivant Sciences by 59.3% in the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares during the period. 64.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently commented on ROIV shares. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday, June 18th. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a research note on Thursday, July 10th.
Read Our Latest Research Report on ROIV
Roivant Sciences Stock Down 1.0%
Shares of NASDAQ:ROIV traded down $0.11 during midday trading on Wednesday, reaching $11.39. The company's stock had a trading volume of 3,360,788 shares, compared to its average volume of 5,748,984. The firm has a market capitalization of $7.74 billion, a PE ratio of -45.56 and a beta of 1.15. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The stock has a fifty day moving average of $11.20 and a 200 day moving average of $10.85.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The firm had revenue of $7.57 million for the quarter, compared to analysts' expectations of $62.17 million. During the same period last year, the company posted ($0.23) earnings per share. Sell-side analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.
Insider Buying and Selling at Roivant Sciences
In other Roivant Sciences news, COO Eric Venker sold 566,278 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the transaction, the chief operating officer directly owned 1,462,223 shares of the company's stock, valued at $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the 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 directly owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,464,462 shares of company stock worth $39,228,856. Insiders own 7.90% of the company's stock.
Roivant Sciences Company Profile
(
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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