Fmr LLC Buys 2,593,910 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Fmr LLC lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 5.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 49,145,056 shares of the company’s stock after acquiring an additional 2,593,910 shares during the period. Fmr LLC owned about 0.07% of Roivant Sciences worth $567,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROIV. Rubric Capital Management LP grew its holdings in shares of Roivant Sciences by 15.0% during the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after purchasing an additional 3,000,000 shares during the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Roivant Sciences during the 2nd quarter valued at approximately $31,182,000. BlackBarn Capital Partners LP boosted its position in Roivant Sciences by 63.1% during the 2nd quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock worth $32,767,000 after buying an additional 1,199,406 shares during the period. Vanguard Group Inc. boosted its position in Roivant Sciences by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock worth $85,441,000 after buying an additional 1,030,681 shares during the period. Finally, Sofinnova Investments Inc. boosted its position in Roivant Sciences by 86.5% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,868,412 shares of the company’s stock worth $19,749,000 after buying an additional 866,708 shares during the period. 64.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ROIV. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday, November 13th. Finally, Bank of America boosted their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.93.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, Director Financial Lp Qvt sold 876,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were 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 of the company’s stock, valued at $262,160,011.56. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the sale, the chief operating officer now directly owns 606,525 shares in the company, valued at approximately $6,865,863. This trade represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,677,309 shares of company stock worth $43,283,184 in the last quarter. 7.90% of the stock is currently owned by corporate insiders.

Roivant Sciences Trading Down 0.1 %

Shares of ROIV stock opened at $12.69 on Friday. The firm has a market capitalization of $9.24 billion, a PE ratio of 2.25 and a beta of 1.24. The firm has a fifty day simple moving average of $11.75 and a two-hundred day simple moving average of $11.37. Roivant Sciences Ltd. has a 12 month low of $8.87 and a 12 month high of $13.06.

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.