Roivant Sciences Ltd. $ROIV Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 36.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,934 shares of the company’s stock after purchasing an additional 3,686 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Roivant Sciences were worth $157,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. CWM LLC boosted its position in 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 acquiring an additional 920 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Roivant Sciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company’s stock worth $173,000 after purchasing an additional 1,434 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Roivant Sciences by 22.9% during the 2nd quarter. GAMMA Investing LLC now owns 7,978 shares of the company’s stock worth $90,000 after purchasing an additional 1,485 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Roivant Sciences by 42.0% during the 2nd quarter. UMB Bank n.a. now owns 5,883 shares of the company’s stock worth $66,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Roivant Sciences by 0.4% in the second quarter. Retirement Systems of Alabama now owns 514,551 shares of the company’s stock valued at $5,799,000 after purchasing an additional 2,149 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ROIV. HC Wainwright lifted their price objective on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Weiss Ratings raised Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Jefferies Financial Group boosted their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, September 18th. Finally, Guggenheim restated a “buy” rating and set a $25.00 price objective on shares of Roivant Sciences in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Roivant Sciences Stock Down 0.3%

Shares of Roivant Sciences stock opened at $20.82 on Friday. The firm has a market cap of $14.48 billion, a PE ratio of -37.17 and a beta of 1.23. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $21.35. The business’s fifty day simple moving average is $18.27 and its 200-day simple moving average is $13.98.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 683,818 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the completion of the transaction, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. This trade represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel Allen Gold sold 1,300,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $20.23, for a total transaction of $26,299,000.00. Following the completion of the sale, the director directly owned 18,047,727 shares in the company, valued at $365,105,517.21. This trade represents a 6.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,483,561 shares of company stock valued at $143,557,750 over the last 90 days. 10.80% of the stock is owned by insiders.

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.