Platinum Investment Management Ltd. Trims Holdings in Roivant Sciences Ltd. $ROIV

Platinum Investment Management Ltd. decreased its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 481,335 shares of the company’s stock after selling 14,462 shares during the period. Platinum Investment Management Ltd. owned 0.07% of Roivant Sciences worth $5,425,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. raised its position in shares of Roivant Sciences by 3.8% in the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company’s stock worth $99,695,000 after buying an additional 365,468 shares during the period. BlackBarn Capital Partners LP raised its holdings in shares of Roivant Sciences by 15.2% in the 1st quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock worth $47,928,000 after purchasing an additional 625,000 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Roivant Sciences by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock worth $40,362,000 after purchasing an additional 560,641 shares during the period. Nuveen LLC purchased a new position in shares of Roivant Sciences in the 1st quarter worth about $31,988,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Roivant Sciences by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,847,625 shares of the company’s stock worth $28,733,000 after purchasing an additional 35,123 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

ROIV has been the topic of several research reports. The Goldman Sachs Group raised their price target on shares of Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Jefferies Financial Group raised their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Bank of America raised their target price on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Leerink Partners raised their target price on shares of Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, Guggenheim boosted their price objective on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Roivant Sciences has an average rating of “Buy” and an average price target of $19.94.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $15.75 on Thursday. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $16.15. The business’s 50-day simple moving average is $12.79 and its 200 day simple moving average is $11.53. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of -22.50 and a beta of 1.20.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline bought 3,315 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were bought at an average cost of $15.07 per share, with a total value of $49,957.05. Following the transaction, the chief executive officer directly owned 17,287,081 shares in the company, valued at approximately $260,516,310.67. This trade represents a 0.02% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the completion of the sale, the insider directly owned 36,089,108 shares in the company, valued at $451,113,850. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,686,749 shares of company stock valued at $50,302,987 in the last three months. Corporate insiders own 10.80% of the company’s stock.

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.