Geode Capital Management LLC Raises Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Geode Capital Management LLC lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 23.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,745,104 shares of the company’s stock after buying an additional 1,460,205 shares during the period. Geode Capital Management LLC’s holdings in Roivant Sciences were worth $89,400,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mutual of America Capital Management LLC boosted its holdings in Roivant Sciences by 0.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock worth $3,457,000 after acquiring an additional 1,142 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Roivant Sciences by 23.2% during the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock valued at $89,000 after purchasing an additional 1,603 shares in the last quarter. Covestor Ltd lifted its position in shares of Roivant Sciences by 9.1% during the third quarter. Covestor Ltd now owns 19,190 shares of the company’s stock valued at $222,000 after purchasing an additional 1,605 shares in the last quarter. US Bancorp DE boosted its holdings in Roivant Sciences by 146.5% during the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Quarry LP grew its position in Roivant Sciences by 50.0% in the 3rd quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Price Performance

Shares of ROIV opened at $11.50 on Friday. Roivant Sciences Ltd. has a 1 year low of $9.69 and a 1 year high of $13.06. The stock’s fifty day moving average price is $11.91 and its two-hundred day moving average price is $11.48. The firm has a market cap of $8.37 billion, a PE ratio of 2.04 and a beta of 1.25.

Insider Activity at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $11.65, for a total value of $1,165,000.00. Following the completion of the transaction, the chief operating officer now owns 617,470 shares in the company, valued at $7,193,525.50. This trade represents a 13.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Financial Lp Qvt sold 876,000 shares of the company’s stock in a transaction that occurred on 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 owns 22,179,358 shares in the company, valued at $262,160,011.56. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,677,309 shares of company stock worth $43,283,184. Company insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

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