New Mexico Educational Retirement Board Buys 25,000 Shares of Roivant Sciences Ltd. $ROIV

New Mexico Educational Retirement Board increased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,970 shares of the company’s stock after buying an additional 25,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Roivant Sciences were worth $4,168,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in Roivant Sciences in the third quarter worth $25,000. Compass Financial Management LLC acquired a new position in shares of Roivant Sciences during the third quarter valued at $37,000. Parallel Advisors LLC boosted its holdings in shares of Roivant Sciences by 33.7% during the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock valued at $57,000 after acquiring an additional 520 shares during the period. Bessemer Group Inc. grew its position in shares of Roivant Sciences by 21.8% during the first quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock worth $69,000 after acquiring an additional 441 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Roivant Sciences during the third quarter worth about $120,000. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on ROIV shares. HC Wainwright increased their price objective on shares of Roivant Sciences from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 24th. Citigroup upped their target price on shares of Roivant Sciences from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.64.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $41.85 on Thursday. Roivant Sciences Ltd. has a 1 year low of $19.96 and a 1 year high of $42.50. The stock has a fifty day moving average of $37.09 and a two-hundred day moving average of $32.08. The firm has a market capitalization of $30.23 billion, a PE ratio of -66.43 and a beta of 1.23.

Insiders Place Their Bets

In related news, insider Mayukh Sukhatme sold 284,707 shares of Roivant Sciences stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the sale, the insider directly owned 18,630,739 shares in the company, valued at $675,364,288.75. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the completion of the transaction, the chief executive officer owned 1,399,154 shares of the company’s stock, valued at $49,124,296.94. This represents a 12.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,022,688 shares of company stock worth $73,438,636 over the last three months. Corporate insiders own 8.80% of the company’s stock.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.