Charles Schwab Investment Management Inc. Buys 646,627 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Charles Schwab Investment Management Inc. lifted its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 30.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,767,412 shares of the company's stock after acquiring an additional 646,627 shares during the period. Charles Schwab Investment Management Inc. owned 0.37% of Roivant Sciences worth $31,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ROIV. Rubric Capital Management LP lifted its stake in Roivant Sciences by 15.0% during the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company's stock valued at $243,110,000 after purchasing an additional 3,000,000 shares during the last quarter. DME Capital Management LP lifted its stake in Roivant Sciences by 14.8% during the second quarter. DME Capital Management LP now owns 4,810,960 shares of the company's stock valued at $50,852,000 after purchasing an additional 620,470 shares during the last quarter. BlackBarn Capital Partners LP lifted its stake in Roivant Sciences by 63.1% during the second quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company's stock valued at $32,767,000 after purchasing an additional 1,199,406 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in Roivant Sciences during the second quarter valued at approximately $31,182,000. Finally, Bank of New York Mellon Corp lifted its stake in Roivant Sciences by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company's stock valued at $28,397,000 after purchasing an additional 58,541 shares during the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV traded down $0.01 during trading hours on Wednesday, hitting $12.11. 6,446,854 shares of the stock were exchanged, compared to its average volume of 5,824,622. The company's 50 day moving average is $11.78 and its 200 day moving average is $11.39. The firm has a market capitalization of $8.82 billion, a P/E ratio of 2.15 and a beta of 1.25. Roivant Sciences Ltd. has a one year low of $9.48 and a one year high of $13.06.

Insider Activity

In other news, CEO Matthew Gline sold 1,983,257 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $23,382,600.03. Following the transaction, the chief executive officer now owns 17,870,543 shares of the company's stock, valued at approximately $210,693,701.97. This trade represents a 9.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the transaction, the chief accounting officer now directly owns 209,322 shares in the company, valued at $2,488,838.58. The trade was a 54.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,677,309 shares of company stock worth $43,283,184. 7.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROIV has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a "neutral" rating in a report on Wednesday, September 11th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.93.

About Roivant Sciences

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.