Te Ahumairangi Investment Management Ltd Increases Stock Holdings in Roivant Sciences Ltd. $ROIV

Te Ahumairangi Investment Management Ltd increased its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,811 shares of the company’s stock after acquiring an additional 18,800 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Roivant Sciences were worth $1,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROIV. Amundi grew its position in shares of Roivant Sciences by 18.1% during the 1st quarter. Amundi now owns 398,729 shares of the company’s stock valued at $3,991,000 after purchasing an additional 61,214 shares in the last quarter. Inspire Investing LLC bought a new stake in Roivant Sciences during the first quarter valued at $303,000. IFG Advisory LLC purchased a new position in Roivant Sciences during the second quarter worth about $255,000. Y Intercept Hong Kong Ltd bought a new position in Roivant Sciences in the 2nd quarter worth about $3,064,000. Finally, Peak Financial Advisors LLC bought a new stake in shares of Roivant Sciences during the 2nd quarter valued at about $472,000. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $20.87 on Thursday. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $21.35. The firm has a market cap of $14.51 billion, a P/E ratio of -37.27 and a beta of 1.23. The business’s 50 day moving average price is $18.04 and its 200-day moving average price is $13.87.

Insider Buying and Selling

In other news, Director Daniel Allen Gold sold 1,300,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $20.23, for a total value of $26,299,000.00. Following the sale, the director directly owned 18,047,727 shares of the company’s stock, valued at $365,105,517.21. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Vivek Ramaswamy sold 539,650 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $20.51, for a total value of $11,068,221.50. Following the completion of the sale, the insider directly owned 33,653,756 shares in the company, valued at $690,238,535.56. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,483,561 shares of company stock valued at $143,557,750 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ROIV. Leerink Partners reissued an “outperform” rating and issued a $29.00 price target on shares of Roivant Sciences in a report on Tuesday, November 11th. Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Citigroup increased their price target on shares of Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. HC Wainwright boosted their price objective 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. Finally, The Goldman Sachs Group boosted their target price on Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Roivant Sciences has an average rating of “Moderate Buy” and an average price target of $22.56.

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.