25,000 Roivant Sciences Ltd. $ROIV Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 28.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,970 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Roivant Sciences were worth $4,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its holdings in Roivant Sciences by 18.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock worth $295,965,000 after acquiring an additional 1,286,464 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Roivant Sciences by 3.8% in the 1st quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company’s stock valued at $229,507,000 after purchasing an additional 300,000 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Roivant Sciences by 20.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company’s stock valued at $152,597,000 after purchasing an additional 704,783 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Roivant Sciences by 179.0% during the second quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company’s stock worth $95,124,000 after purchasing an additional 1,724,588 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Roivant Sciences by 8.0% during the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock worth $87,638,000 after purchasing an additional 235,493 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Price Performance

ROIV stock opened at $41.85 on Thursday. The firm has a market cap of $30.23 billion, a price-to-earnings ratio of -66.43 and a beta of 1.23. Roivant Sciences Ltd. has a 1-year low of $19.96 and a 1-year high of $42.50. The firm has a fifty day moving average price of $37.09 and a two-hundred day moving average price of $32.08.

Insider Activity

In related news, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the sale, the chief executive officer owned 1,399,154 shares in the company, valued at $49,124,296.94. This represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 284,707 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the completion of the transaction, the insider directly owned 18,630,739 shares in the company, valued at $675,364,288.75. This represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,022,688 shares of company stock valued at $73,438,636 over the last ninety days. Company insiders own 8.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ROIV. Sanford C. Bernstein upgraded Roivant Sciences to a “strong-buy” rating in a research note on Wednesday, July 29th. Guggenheim upped their price objective on Roivant Sciences from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Citigroup upped their price objective on Roivant Sciences from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a report on Wednesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.64.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.