Erste Asset Management GmbH Makes New Investment in Roivant Sciences Ltd. (NASDAQ:ROIV)

Erste Asset Management GmbH acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 214,000 shares of the company’s stock, valued at approximately $2,457,000.

A number of other hedge funds also recently modified their holdings of the stock. Clearbridge Investments LLC lifted its holdings in Roivant Sciences by 51.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company’s stock worth $19,666,000 after purchasing an additional 630,712 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Roivant Sciences in the first quarter valued at about $758,000. Point72 Asset Management L.P. grew its stake in shares of Roivant Sciences by 40.1% in the second quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company’s stock valued at $6,840,000 after acquiring an additional 185,226 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Roivant Sciences during the third quarter worth about $2,267,000. Finally, SG Americas Securities LLC acquired a new stake in Roivant Sciences in the 2nd quarter worth about $472,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Roivant Sciences Trading Down 1.8 %

Roivant Sciences stock opened at $12.48 on Tuesday. The stock has a 50-day moving average price of $11.77 and a two-hundred day moving average price of $11.38. Roivant Sciences Ltd. has a 12 month low of $9.48 and a 12 month high of $13.06. The company has a market capitalization of $9.08 billion, a PE ratio of 2.21 and a beta of 1.24.

Insider Activity

In related news, Director Financial Lp Qvt sold 876,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $11.82, for a total value of $10,354,320.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the transaction, the chief operating officer now directly owns 617,470 shares in the company, valued at $7,193,525.50. The trade was a 13.94 % decrease in their ownership of the stock. 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 quarter. 7.90% of the stock is owned by company insiders.

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.