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% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,393 shares of the company's stock after selling 28,400 shares during the quarter. New York State Common Retirement Fund's holdings in Roivant Sciences were worth $1,931,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ROIV. Bank of New York Mellon Corp increased its holdings in shares of Roivant Sciences by 16.3% during the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company's stock valued at $40,362,000 after purchasing an additional 560,641 shares during the period. GF Fund Management CO. LTD. increased its holdings in shares of Roivant Sciences by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 18,641 shares of the company's stock valued at $188,000 after purchasing an additional 3,356 shares during the period. Penn Davis Mcfarland Inc. increased its holdings in shares of Roivant Sciences by 3.5% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company's stock valued at $17,226,000 after purchasing an additional 58,206 shares during the period. Fifth Third Bancorp increased its holdings in shares of Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after purchasing an additional 1,905 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Roivant Sciences during the first quarter valued at $570,000. 64.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Roivant Sciences Stock Performance

Shares of Roivant Sciences stock traded up $0.17 during trading on Friday, hitting $11.55. 4,358,236 shares of the stock traded hands, compared to its average volume of 6,275,449. The stock has a market cap of $7.85 billion, a P/E ratio of -46.20 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 company has a fifty day moving average price of $11.22 and a two-hundred day moving average price of $10.84.

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

Insider Activity at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 37,284,108 shares in the company, valued at $427,275,877.68. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Eric Venker sold 566,278 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total value of $6,353,639.16. Following the sale, the chief operating officer directly owned 1,462,223 shares of the company's stock, valued at approximately $16,406,142.06. The trade was a 27.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,464,462 shares of company stock worth $39,228,856. Company insiders own 7.90% of the company's stock.

Roivant Sciences Company 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.