Roivant Sciences Ltd. $ROIV Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 24.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,303 shares of the company's stock after selling 44,804 shares during the period. State of New Jersey Common Pension Fund D's holdings in Roivant Sciences were worth $2,936,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ROIV. UBS Group AG grew its holdings in Roivant Sciences by 570.0% in the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company's stock valued at $399,080,000 after purchasing an additional 15,645,836 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Roivant Sciences by 11,507.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,937,112 shares of the company's stock worth $150,535,000 after buying an additional 6,877,348 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Roivant Sciences during the second quarter worth $37,546,000. Vanguard Group Inc. grew its holdings in shares of Roivant Sciences by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company's stock worth $912,681,000 after buying an additional 3,254,113 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Roivant Sciences by 316.5% during the third quarter. Marshall Wace LLP now owns 3,978,001 shares of the company's stock worth $60,187,000 after buying an additional 3,022,851 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Matthew Gline sold 289,774 shares of the company's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total value of $8,449,809.84. Following the transaction, the chief executive officer owned 16,736,116 shares of the company's stock, valued at $488,025,142.56. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frank Torti sold 1,400,000 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $27.42, for a total value of $38,388,000.00. Following the completion of the transaction, the insider directly owned 13,736,547 shares in the company, valued at approximately $376,656,118.74. This trade represents a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 5,085,398 shares of company stock worth $139,215,946. Corporate insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ROIV. HC Wainwright boosted their price objective on Roivant Sciences from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Citigroup upped their target price on Roivant Sciences from $26.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Jefferies Financial Group restated a "buy" rating on shares of Roivant Sciences in a report on Tuesday, March 3rd. Weiss Ratings cut Roivant Sciences from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, February 9th. Finally, Piper Sandler upped their target price on Roivant Sciences from $22.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Roivant Sciences has an average rating of "Moderate Buy" and a consensus target price of $30.55.

Roivant Sciences Stock Down 0.1%

Shares of NASDAQ:ROIV opened at $28.32 on Wednesday. The business has a fifty day moving average of $28.32 and a two-hundred day moving average of $24.09. The stock has a market cap of $20.27 billion, a P/E ratio of -24.21 and a beta of 1.14. Roivant Sciences Ltd. has a 52-week low of $10.58 and a 52-week high of $30.33.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

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