New York State Common Retirement Fund Sells 64,221 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

New York State Common Retirement Fund lowered its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 19.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 268,092 shares of the company’s stock after selling 64,221 shares during the quarter. New York State Common Retirement Fund’s holdings in Roivant Sciences were worth $3,011,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Xponance Inc. raised its stake in Roivant Sciences by 39.7% in the third quarter. Xponance Inc. now owns 46,804 shares of the company’s stock valued at $547,000 after buying an additional 13,291 shares during the last quarter. Maryland State Retirement & Pension System grew its position in Roivant Sciences by 38.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 26,741 shares of the company’s stock worth $312,000 after purchasing an additional 7,461 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Roivant Sciences by 68.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,187,928 shares of the company’s stock valued at $13,875,000 after purchasing an additional 480,946 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Roivant Sciences by 8.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,019 shares of the company’s stock worth $794,000 after buying an additional 5,465 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Roivant Sciences during the third quarter worth $704,000. Institutional investors own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wolfe Research started coverage on Roivant Sciences in a research report on Thursday, February 15th. They issued an “outperform” rating and a $17.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $23.00 target price on shares of Roivant Sciences in a report on Monday, March 25th. The Goldman Sachs Group increased their price target on shares of Roivant Sciences from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Roivant Sciences from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, TheStreet raised shares of Roivant Sciences from a “d” rating to a “c+” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.90.

Roivant Sciences Trading Up 1.8 %

Shares of Roivant Sciences stock opened at $11.60 on Tuesday. Roivant Sciences Ltd. has a fifty-two week low of $8.24 and a fifty-two week high of $13.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. The company has a market cap of $9.35 billion, a P/E ratio of 2.23 and a beta of 1.30. The firm has a 50-day simple moving average of $10.88 and a two-hundred day simple moving average of $10.42.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. The company had revenue of $37.14 million during the quarter, compared to analysts’ expectations of $30.72 million. As a group, equities analysts predict that Roivant Sciences Ltd. will post -1.36 earnings per share for the current fiscal year.

Insider Activity

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the transaction, the chief operating officer now directly owns 532,207 shares in the company, valued at $5,811,700.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.60% of the company’s stock.

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.