US Bancorp DE Boosts Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

US Bancorp DE lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 146.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,278 shares of the company’s stock after acquiring an additional 1,948 shares during the quarter. US Bancorp DE’s holdings in Roivant Sciences were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROIV. American International Group Inc. boosted its position in shares of Roivant Sciences by 7,589.5% in the first quarter. American International Group Inc. now owns 450,065 shares of the company’s stock worth $4,744,000 after purchasing an additional 444,212 shares during the period. Magnetar Financial LLC purchased a new stake in Roivant Sciences in the 1st quarter worth $1,576,000. Ameritas Investment Partners Inc. bought a new stake in Roivant Sciences during the first quarter valued at about $784,000. Clearbridge Investments LLC purchased a new position in shares of Roivant Sciences in the first quarter valued at about $12,962,000. Finally, Cetera Advisors LLC purchased a new position in shares of Roivant Sciences in the first quarter valued at about $758,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Stock Performance

ROIV stock opened at $11.16 on Tuesday. The firm has a fifty day moving average price of $11.75 and a 200 day moving average price of $11.32. Roivant Sciences Ltd. has a fifty-two week low of $8.56 and a fifty-two week high of $13.06. The firm has a market cap of $8.25 billion, a PE ratio of 1.98 and a beta of 1.24.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, Director Financial Lp Qvt sold 876,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $11.82, for a total transaction of $10,354,320.00. Following the sale, the director now directly owns 22,179,358 shares in the company, valued at $262,160,011.56. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Keith S. Manchester sold 368,052 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the sale, the director now directly owns 1,412,126 shares of the company’s stock, valued at $16,408,904.12. The trade was a 20.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,577,309 shares of company stock worth $42,151,184 over the last 90 days. 7.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Roivant Sciences presently has an average rating of “Moderate Buy” and an average price target of $17.93.

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.