Te Ahumairangi Investment Management Ltd Acquires 18,800 Shares of Roivant Sciences Ltd. $ROIV

Te Ahumairangi Investment Management Ltd raised its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 11.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 176,811 shares of the company’s stock after acquiring an additional 18,800 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Roivant Sciences were worth $1,993,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Amundi raised its stake in Roivant Sciences by 18.1% during the 1st quarter. Amundi now owns 398,729 shares of the company’s stock valued at $3,991,000 after buying an additional 61,214 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Roivant Sciences in the first quarter worth $303,000. IFG Advisory LLC purchased a new stake in Roivant Sciences during the second quarter valued at $255,000. Y Intercept Hong Kong Ltd bought a new position in Roivant Sciences in the second quarter valued at about $3,064,000. Finally, Peak Financial Advisors LLC bought a new position in Roivant Sciences in the second quarter valued at about $472,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Trading Up 0.0%

ROIV opened at $20.87 on Thursday. The stock has a 50-day moving average of $18.04 and a 200 day moving average of $13.87. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $21.35. The firm has a market cap of $14.51 billion, a P/E ratio of -37.27 and a beta of 1.23.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. The Goldman Sachs Group upped their price objective on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Guggenheim reissued a “buy” rating and set a $25.00 target price on shares of Roivant Sciences in a research note on Friday, November 14th. Leerink Partners restated an “outperform” rating and issued a $29.00 price target on shares of Roivant Sciences in a research note on Tuesday, November 11th. Finally, Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 683,818 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $14.95, for a total value of $10,223,079.10. Following the transaction, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. This represents a 25.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total value of $14,937,500.00. Following the completion of the sale, the insider owned 36,089,108 shares in the company, valued at approximately $451,113,850. The trade was a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,483,561 shares of company stock worth $143,557,750. 10.80% of the stock is currently owned by company insiders.

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.