State Street Corp Buys 1,118,561 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

State Street Corp boosted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,561,249 shares of the company's stock after acquiring an additional 1,118,561 shares during the quarter. State Street Corp owned 2.65% of Roivant Sciences worth $225,737,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ROIV. Clearbridge Investments LLC boosted its holdings in shares of Roivant Sciences by 51.3% in the second quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company's stock valued at $19,666,000 after acquiring an additional 630,712 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Roivant Sciences by 40.1% in the second quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company's stock valued at $6,840,000 after buying an additional 185,226 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Roivant Sciences in the third quarter valued at $2,267,000. TOMS Capital Investment Management LP bought a new position in Roivant Sciences during the third quarter valued at about $46,333,000. Finally, SG Americas Securities LLC acquired a new position in Roivant Sciences during the second quarter worth about $472,000. Institutional investors own 64.76% of the company's stock.

Insiders Place Their Bets

In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of the business's stock in a transaction on Monday, September 23rd. The shares were 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 owns 17,870,543 shares of the company's stock, valued at $210,693,701.97. The trade was a 9.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total value of $1,132,000.00. Following the completion of the sale, the chief operating officer now directly owns 606,525 shares in the company, valued at approximately $6,865,863. This represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,677,309 shares of company stock valued at $43,283,184 over the last 90 days. 7.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded down $0.12 during mid-day trading on Thursday, reaching $11.99. 1,423,100 shares of the company traded hands, compared to its average volume of 5,758,622. The company's fifty day moving average is $11.86 and its two-hundred day moving average is $11.43. Roivant Sciences Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $13.06. The stock has a market cap of $8.73 billion, a PE ratio of 2.14 and a beta of 1.25.

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.