Geode Capital Management LLC Acquires 1,460,205 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Geode Capital Management LLC boosted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 23.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,745,104 shares of the company's stock after purchasing an additional 1,460,205 shares during the quarter. Geode Capital Management LLC owned approximately 1.05% of Roivant Sciences worth $89,400,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. TOMS Capital Investment Management LP bought a new stake in shares of Roivant Sciences in the 3rd quarter worth approximately $46,333,000. Rubric Capital Management LP grew its position in Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company's stock worth $243,110,000 after purchasing an additional 3,000,000 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in shares of Roivant Sciences in the second quarter valued at approximately $31,182,000. FMR LLC raised its holdings in shares of Roivant Sciences by 5.6% during the third quarter. FMR LLC now owns 49,145,056 shares of the company's stock valued at $567,134,000 after buying an additional 2,593,910 shares during the last quarter. Finally, BlackBarn Capital Partners LP boosted its position in shares of Roivant Sciences by 63.1% during the second quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company's stock worth $32,767,000 after buying an additional 1,199,406 shares during the period. Institutional investors own 64.76% of the company's stock.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV traded up $0.07 during trading hours on Friday, hitting $11.57. 15,754,118 shares of the company's stock traded hands, compared to its average volume of 5,795,466. The company's fifty day simple moving average is $11.91 and its two-hundred day simple moving average is $11.48. Roivant Sciences Ltd. has a 52 week low of $9.69 and a 52 week high of $13.06. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 2.05 and a beta of 1.25.

Insider Buying and Selling

In related news, 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 value of $10,354,320.00. Following the completion of the sale, the director now owns 22,179,358 shares in the company, valued at approximately $262,160,011.56. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Gline sold 1,983,257 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the transaction, the chief executive officer now directly owns 17,870,543 shares of the company's stock, valued at $210,693,701.97. This represents a 9.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,089,893 shares of company stock worth $48,254,821. Corporate insiders own 7.90% of the company's stock.

Analyst Upgrades and Downgrades

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