Roivant Sciences Ltd. (NASDAQ:ROIV) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 409.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 706,982 shares of the company’s stock after purchasing an additional 568,197 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of Roivant Sciences worth $7,126,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ROIV. Wellington Management Group LLP purchased a new position in shares of Roivant Sciences in the first quarter worth about $88,773,000. State Street Corp lifted its stake in shares of Roivant Sciences by 129.1% in the first quarter. State Street Corp now owns 8,032,952 shares of the company’s stock worth $59,283,000 after buying an additional 4,525,910 shares in the last quarter. Baker BROS. Advisors LP lifted its stake in shares of Roivant Sciences by 566.6% in the first quarter. Baker BROS. Advisors LP now owns 4,777,430 shares of the company’s stock worth $35,257,000 after buying an additional 4,060,777 shares in the last quarter. Rubric Capital Management LP lifted its stake in shares of Roivant Sciences by 86.7% in the first quarter. Rubric Capital Management LP now owns 5,600,000 shares of the company’s stock worth $41,328,000 after buying an additional 2,600,000 shares in the last quarter. Finally, American International Group Inc. purchased a new position in shares of Roivant Sciences in the first quarter worth about $8,965,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $8.97 on Monday. The company’s 50 day simple moving average is $9.99 and its 200-day simple moving average is $10.26. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of -6.80 and a beta of 1.32. Roivant Sciences Ltd. has a 1 year low of $4.71 and a 1 year high of $13.24. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.37 and a current ratio of 5.84.

Analysts Set New Price Targets

ROIV has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of Roivant Sciences in a research note on Monday, September 18th. The Goldman Sachs Group lifted their target price on shares of Roivant Sciences from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 27th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Tuesday, August 15th. JPMorgan Chase & Co. reduced their target price on shares of Roivant Sciences from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 14th. Finally, Guggenheim reduced their target price on shares of Roivant Sciences from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.33.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $12.60, for a total value of $126,000,000.00. Following the sale, the insider now directly owns 73,031,667 shares of the company’s stock, valued at approximately $920,199,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $12.60, for a total value of $126,000,000.00. Following the sale, the insider now directly owns 73,031,667 shares of the company’s stock, valued at approximately $920,199,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sciences Ltd. Roivant purchased 1,526,316 shares of Roivant Sciences stock in a transaction dated Monday, October 2nd. The stock was bought at an average cost of $38.00 per share, for a total transaction of $58,000,008.00. Following the completion of the purchase, the director now directly owns 79,805,331 shares in the company, valued at approximately $3,032,602,578. The disclosure for this purchase can be found here. In the last three months, insiders have sold 18,218,116 shares of company stock valued at $221,241,743. Company insiders own 4.60% of the company’s stock.

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.