New York State Teachers Retirement System Increases Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

New York State Teachers Retirement System lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,220 shares of the company’s stock after buying an additional 4,959 shares during the quarter. New York State Teachers Retirement System’s holdings in Roivant Sciences were worth $3,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Roivant Sciences by 22.5% during the fourth quarter. Nordea Investment Management AB now owns 282,834 shares of the company’s stock valued at $3,306,000 after buying an additional 52,031 shares during the period. TOMS Capital Investment Management LP purchased a new position in shares of Roivant Sciences during the third quarter valued at about $46,333,000. Barclays PLC increased its position in shares of Roivant Sciences by 19.7% during the third quarter. Barclays PLC now owns 459,521 shares of the company’s stock valued at $5,302,000 after buying an additional 75,609 shares during the period. Loomis Sayles & Co. L P increased its position in shares of Roivant Sciences by 13.3% during the third quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company’s stock valued at $45,147,000 after buying an additional 458,601 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Roivant Sciences by 26.9% in the third quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock worth $6,116,000 after purchasing an additional 112,286 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ROIV. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Tuesday, February 11th. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.08.

Insider Transactions at Roivant Sciences

In related news, CIO Mayukh Sukhatme sold 185,946 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $12.00, for a total transaction of $2,231,352.00. Following the transaction, the executive now owns 18,836,547 shares in the company, valued at $226,038,564. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric Venker sold 218,041 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.42, for a total transaction of $2,271,987.22. Following the transaction, the chief operating officer now owns 896,869 shares in the company, valued at approximately $9,345,374.98. This trade represents a 19.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,288,170 shares of company stock worth $26,547,299. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $10.68 on Friday. The firm’s 50 day moving average price is $11.21 and its 200-day moving average price is $11.58. The company has a market cap of $7.62 billion, a PE ratio of -71.20 and a beta of 1.25. Roivant Sciences Ltd. has a 52-week low of $9.76 and a 52-week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. On average, analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

About Roivant Sciences

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.