Bank of New York Mellon Corp Has $40.36 Million Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Bank of New York Mellon Corp boosted its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 16.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,000,181 shares of the company’s stock after buying an additional 560,641 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of Roivant Sciences worth $40,362,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after purchasing an additional 1,108 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Roivant Sciences by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company’s stock worth $2,213,000 after purchasing an additional 1,170 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Roivant Sciences by 1.5% during the 4th quarter. WINTON GROUP Ltd now owns 92,526 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,332 shares during the last quarter. Covestor Ltd increased its position in shares of Roivant Sciences by 7.5% during the 4th quarter. Covestor Ltd now owns 20,634 shares of the company’s stock worth $245,000 after purchasing an additional 1,444 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock worth $84,000 after purchasing an additional 1,507 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Insider Activity

In other Roivant Sciences news, COO Eric Venker sold 566,278 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total value of $6,353,639.16. Following the completion of the transaction, the chief operating officer directly owned 1,462,223 shares in the company, valued at approximately $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $11.46, for a total value of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares of the company’s stock, valued at $427,275,877.68. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,464,462 shares of company stock valued at $39,098,856 over the last quarter. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Performance

ROIV opened at $11.63 on Tuesday. The firm has a market cap of $7.91 billion, a P/E ratio of -46.52 and a beta of 1.15. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $13.06. The business’s fifty day moving average is $11.11 and its 200-day moving average is $10.85.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the prior year, the company earned ($0.23) earnings per share. On average, research analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group upgraded Roivant Sciences to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Thursday, July 10th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th.

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.