Teachers Retirement System of The State of Kentucky Trims Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Teachers Retirement System of The State of Kentucky reduced its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 23.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,900 shares of the company’s stock after selling 36,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Roivant Sciences were worth $1,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ROIV. TOMS Capital Investment Management LP purchased a new stake in Roivant Sciences in the third quarter valued at $46,333,000. Rubric Capital Management LP lifted its holdings in shares of Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after buying an additional 3,000,000 shares during the period. Troluce Capital Advisors LLC purchased a new stake in shares of Roivant Sciences in the second quarter worth about $31,182,000. FMR LLC grew its holdings in Roivant Sciences by 5.6% during the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after acquiring an additional 2,593,910 shares during the period. Finally, Geode Capital Management LLC raised its position in Roivant Sciences by 23.2% during the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after acquiring an additional 1,460,205 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. Finally, 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 report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.93.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $12.15 on Wednesday. The stock has a market capitalization of $8.84 billion, a PE ratio of 2.15 and a beta of 1.25. Roivant Sciences Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $13.06. The company has a fifty day moving average of $11.90 and a two-hundred day moving average of $11.46.

Insider Transactions at Roivant Sciences

In related news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the completion of the sale, the chief operating officer now directly owns 606,525 shares in the company, valued at approximately $6,865,863. The trade was a 14.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith S. Manchester sold 368,052 shares of the firm’s stock in a transaction 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 transaction, the director now owns 1,412,126 shares in the company, valued at $16,408,904.12. The trade was a 20.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,677,309 shares of company stock valued at $43,283,184 over the last 90 days. Corporate insiders own 7.90% of the company’s stock.

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.