VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Roivant Sciences Ltd. $ROIV

Key Points

• Virginia Retirement Systems has acquired a new position in Roivant Sciences Ltd., purchasing 76,700 shares valued at approximately $864,000.
• Roivant Sciences has seen significant growth in institutional investment, with over 64.76% of the stock now owned by hedge funds and other institutional investors.
• Analysts have recently raised their price targets for Roivant Sciences, with an average target of $19.94 and a consensus rating of "Moderate Buy."

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 76,700 shares of the company's stock, valued at approximately $864,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC grew its holdings in shares of Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company's stock worth $34,000 after buying an additional 920 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after buying an additional 2,233 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Roivant Sciences by 42.0% during the second quarter. UMB Bank n.a. now owns 5,883 shares of the company's stock worth $66,000 after buying an additional 1,740 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Roivant Sciences by 83.0% during the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after buying an additional 2,945 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Roivant Sciences by 44.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the company's stock worth $103,000 after buying an additional 3,169 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Price Performance

NASDAQ ROIV opened at $18.12 on Friday. The firm has a market capitalization of $12.37 billion, a P/E ratio of -25.89 and a beta of 1.20. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $18.42. The business's 50-day simple moving average is $14.47 and its 200-day simple moving average is $12.23.

Insider Activity

In other news, CEO Eric Venker sold 118,418 shares of the stock in a transaction on Friday, October 17th. The shares were sold at an average price of $17.06, for a total value of $2,020,211.08. Following the completion of the sale, the chief executive officer owned 1,504,959 shares of the company's stock, valued at $25,674,600.54. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 5,228,958 shares of company stock valued at $76,447,638 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ROIV shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Roivant Sciences in a report on Wednesday, October 8th. HC Wainwright lifted their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Bank of America lifted their price target on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Guggenheim lifted their price target on shares of Roivant Sciences from $15.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Finally, Citigroup started coverage on shares of Roivant Sciences in a report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Roivant Sciences currently has an average rating of "Moderate Buy" and an average price target of $19.94.

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.

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