3,170,286 Shares in Roivant Sciences Ltd. $ROIV Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Roivant Sciences, purchasing over 3.17 million shares valued at approximately $31.99 million, representing about 0.44% of the company's total shares.
• Roivant Sciences recently reported a quarterly earnings miss with an earnings per share of ($0.31), falling short of analysts' expectations and showing a significant negative net margin of 2,111.79%.
• Institutional investors hold a significant share of Roivant Sciences, with about 64.76% of the stock currently owned by hedge funds and institutional investors.

Nuveen LLC purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,170,286 shares of the company's stock, valued at approximately $31,988,000. Nuveen LLC owned approximately 0.44% of Roivant Sciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its position 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 worth $25,000 after buying an additional 1,108 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Roivant Sciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company's stock worth $173,000 after buying an additional 1,434 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after buying an additional 1,905 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after buying an additional 1,948 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after buying an additional 2,195 shares in the last quarter. Institutional investors own 64.76% of the company's stock.

Analysts Set New Price Targets

ROIV has been the subject of a number of analyst reports. HC Wainwright restated 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 Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective for the company in a research note on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $16.50.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction dated 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 sale, the insider directly owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Venker sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 1,462,223 shares in the company, valued at $16,844,808.96. This represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,090,503 shares of company stock valued at $34,991,546. 10.80% of the stock is currently owned by company insiders.

Roivant Sciences Price Performance

Roivant Sciences stock traded up $0.0850 during midday trading on Friday, reaching $11.8950. The company's stock had a trading volume of 1,294,704 shares, compared to its average volume of 5,743,713. The stock's 50-day simple moving average is $11.42 and its 200-day simple moving average is $10.91. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $13.06. The stock has a market capitalization of $8.09 billion, a P/E ratio of -16.99 and a beta of 1.15.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 2,111.79% and a negative return on equity of 15.90%. The business had revenue of $7.57 million during the quarter, compared to analysts' expectations of $62.17 million. During the same quarter last year, the business posted ($0.23) earnings per share. As a group, equities research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

About Roivant Sciences

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.