New York State Common Retirement Fund Sells 28,400 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

New York State Common Retirement Fund cut its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 12.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,393 shares of the company's stock after selling 28,400 shares during the period. New York State Common Retirement Fund's holdings in Roivant Sciences were worth $1,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROIV. Parallel Advisors LLC increased its holdings in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after acquiring an additional 1,108 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Roivant Sciences by 0.6% during the 4th 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 increased its holdings in shares of Roivant Sciences by 1.5% during the 4th quarter. WINTON GROUP Ltd now owns 92,526 shares of the company's stock valued at $1,095,000 after acquiring an additional 1,332 shares during the last quarter. Covestor Ltd increased its holdings in shares of Roivant Sciences by 7.5% during the 4th quarter. Covestor Ltd now owns 20,634 shares of the company's stock valued at $245,000 after acquiring an additional 1,444 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock valued at $84,000 after acquiring an additional 1,507 shares during the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business'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 transaction, the insider owned 37,284,108 shares of the company's stock, valued at approximately $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Venker sold 100,000 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $11.52, for a total value of $1,152,000.00. Following the transaction, the chief executive officer directly owned 1,462,223 shares in the company, valued at $16,844,808.96. This trade represents a 6.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,464,462 shares of company stock worth $39,228,856. 7.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ROIV has been the topic of a number of research analyst reports. The Goldman Sachs Group raised Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a report on Thursday, July 10th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV traded up $0.17 during trading on Friday, hitting $11.55. 4,358,236 shares of the stock were exchanged, compared to its average volume of 5,957,831. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $13.06. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -46.20 and a beta of 1.15. The company's fifty day simple moving average is $11.21 and its 200-day simple moving average is $10.84.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The company had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same period in the prior year, the firm earned ($0.23) EPS. On average, research analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Roivant Sciences Profile

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.