Thrivent Financial for Lutherans Sells 62,228 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Thrivent Financial for Lutherans reduced its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 33.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,823 shares of the company's stock after selling 62,228 shares during the quarter. Thrivent Financial for Lutherans' holdings in Roivant Sciences were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Gladius Capital Management LP purchased a new position in shares of Roivant Sciences during the 3rd quarter valued at about $35,000. Mutual of America Capital Management LLC raised its stake in shares of Roivant Sciences by 12.5% during the third quarter. Mutual of America Capital Management LLC now owns 367,866 shares of the company's stock worth $4,245,000 after acquiring an additional 40,787 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Roivant Sciences by 8.3% in the 3rd quarter. Natixis Advisors LLC now owns 153,717 shares of the company's stock worth $1,774,000 after acquiring an additional 11,726 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Roivant Sciences in the 3rd quarter valued at $152,000. Finally, Covestor Ltd raised its position in Roivant Sciences by 9.1% in the 3rd quarter. Covestor Ltd now owns 19,190 shares of the company's stock worth $222,000 after purchasing an additional 1,605 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Price Performance

ROIV traded up $0.02 on Friday, hitting $12.71. The company had a trading volume of 2,439,939 shares, compared to its average volume of 5,110,269. The stock has a fifty day simple moving average of $11.76 and a 200-day simple moving average of $11.38. The firm has a market capitalization of $9.25 billion, a P/E ratio of 2.25 and a beta of 1.24. Roivant Sciences Ltd. has a 52-week low of $9.34 and a 52-week high of $13.06.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ROIV shares. Bank of America raised their price objective on Roivant Sciences from $12.00 to $12.50 and gave the company a "neutral" rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.93.

Insider Activity

In other Roivant Sciences news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 209,322 shares in the company, valued at approximately $2,488,838.58. The trade was a 54.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total value of $1,132,000.00. Following the completion of the transaction, the chief operating officer now directly owns 606,525 shares of the company's stock, valued at approximately $6,865,863. This represents a 14.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,677,309 shares of company stock worth $43,283,184 in the last quarter. 7.90% of the stock is owned by company insiders.

Roivant Sciences 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.