M&T Bank Corp Has $117,000 Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

M&T Bank Corp lowered its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,621 shares of the company’s stock after selling 1,573 shares during the quarter. M&T Bank Corp’s holdings in Roivant Sciences were worth $117,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in 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 buying an additional 1,108 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Roivant Sciences by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company’s stock valued at $2,213,000 after acquiring an additional 1,170 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Roivant Sciences by 1.5% in the 4th quarter. WINTON GROUP Ltd now owns 92,526 shares of the company’s stock valued at $1,095,000 after acquiring an additional 1,332 shares in the last quarter. Covestor Ltd grew its holdings in shares of Roivant Sciences by 7.5% in the 4th quarter. Covestor Ltd now owns 20,634 shares of the company’s stock valued at $245,000 after acquiring an additional 1,444 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Roivant Sciences by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after acquiring an additional 1,507 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ROIV shares. The Goldman Sachs Group upgraded Roivant Sciences to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Thursday, July 10th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, June 18th.

Insider Buying and Selling at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Venker sold 566,278 shares of the stock in a transaction on Tuesday, June 3rd. The shares were 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 represents a 27.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,464,462 shares of company stock valued at $39,098,856. Insiders own 7.90% of the company’s stock.

Roivant Sciences Price Performance

ROIV opened at $11.44 on Friday. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The firm has a market capitalization of $7.78 billion, a PE ratio of -45.76 and a beta of 1.15. The company’s 50-day moving average is $11.16 and its 200 day moving average is $10.85.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The firm had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $62.17 million. During the same quarter last year, the business posted ($0.23) EPS. As a group, analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

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.