New York State Teachers Retirement System Decreases Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

New York State Teachers Retirement System reduced its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 12.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,721 shares of the company's stock after selling 32,499 shares during the quarter. New York State Teachers Retirement System's holdings in Roivant Sciences were worth $2,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in 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 acquiring an additional 1,108 shares in the last quarter. Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 1,948 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Roivant Sciences during the 4th quarter worth $39,000. UMB Bank n.a. raised its stake in 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 acquiring an additional 2,195 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in 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 acquiring an additional 1,905 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business's stock in a transaction dated 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 $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Eric Venker sold 566,278 shares of the business'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 in the company, valued at approximately $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,464,462 shares of company stock worth $39,098,856. Company insiders own 7.90% of the company's stock.

Roivant Sciences Trading Down 1.8%

Roivant Sciences stock traded down $0.21 during midday trading on Friday, hitting $11.36. 5,078,323 shares of the company's stock were exchanged, compared to its average volume of 5,758,784. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06. The firm's 50 day simple moving average is $11.11 and its 200 day simple moving average is $10.86.

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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $7.57 million for the quarter, compared to analysts' expectations of $62.17 million. During the same period in the previous year, the business posted ($0.23) earnings per share. Analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

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

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.