Bank of New York Mellon Corp lifted its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,439,540 shares of the company's stock after acquiring an additional 510,398 shares during the period. Bank of New York Mellon Corp owned 0.47% of Roivant Sciences worth $40,690,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in shares of Roivant Sciences by 15.2% during the fourth quarter. New York State Common Retirement Fund now owns 219,793 shares of the company's stock worth $2,600,000 after purchasing an additional 29,000 shares during the period. Venturi Wealth Management LLC acquired a new stake in Roivant Sciences in the 4th quarter worth about $143,000. State of New Jersey Common Pension Fund D raised its stake in Roivant Sciences by 10.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 185,602 shares of the company's stock valued at $2,196,000 after purchasing an additional 17,217 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Roivant Sciences by 28.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 88,970 shares of the company's stock worth $1,053,000 after buying an additional 19,670 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Roivant Sciences by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 254,220 shares of the company's stock valued at $3,007,000 after purchasing an additional 4,959 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ROIV has been the topic of several recent analyst reports. Cantor Fitzgerald raised Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roivant Sciences currently has an average rating of "Buy" and an average price target of $18.08.
Read Our Latest Report on Roivant Sciences
Insider Buying and Selling at Roivant Sciences
In related news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the company's stock in a transaction on Monday, January 13th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the purchase, the director now directly owns 96,650,341 shares of the company's stock, valued at $1,933,006,820. The trade was a 21.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eric Venker sold 218,041 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.42, for a total transaction of $2,271,987.22. Following the sale, the chief operating officer now owns 896,869 shares of the company's stock, valued at $9,345,374.98. This trade represents a 19.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,388,170 shares of company stock worth $27,612,299 over the last 90 days. 7.90% of the stock is currently owned by corporate insiders.
Roivant Sciences Trading Down 0.6 %
NASDAQ ROIV traded down $0.06 on Monday, hitting $10.58. 5,257,021 shares of the stock traded hands, compared to its average volume of 4,435,436. The company has a market capitalization of $7.55 billion, a P/E ratio of -70.53 and a beta of 1.26. The stock has a 50-day moving average of $10.93 and a 200 day moving average of $11.55. Roivant Sciences Ltd. has a twelve month low of $9.76 and a twelve month high of $13.06.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. As a group, equities research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.
Roivant Sciences Profile
(
Free Report)
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.
See Also
Before you consider Roivant Sciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Roivant Sciences wasn't on the list.
While Roivant Sciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
