Mutual of America Capital Management LLC Sells 142,139 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Mutual of America Capital Management LLC lessened its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 39.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 216,680 shares of the company’s stock after selling 142,139 shares during the period. Mutual of America Capital Management LLC’s holdings in Roivant Sciences were worth $2,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Roivant Sciences by 6.1% during the fourth quarter. Victory Capital Management Inc. now owns 27,494 shares of the company’s stock valued at $325,000 after purchasing an additional 1,588 shares during the period. Raymond James Financial Inc. purchased a new stake in Roivant Sciences during the fourth quarter valued at approximately $995,000. PNC Financial Services Group Inc. increased its holdings in Roivant Sciences by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after buying an additional 1,507 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Roivant Sciences during the fourth quarter valued at approximately $121,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Roivant Sciences during the fourth quarter valued at approximately $127,000. Institutional investors own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $11.44 on Friday. The company’s 50-day simple moving average is $11.16 and its two-hundred day simple moving average is $10.85. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of -45.76 and a beta of 1.15.

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

Insider Activity at Roivant Sciences

In related news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.45, for a total value of $1,145,000.00. Following the completion of the transaction, the chief operating officer directly owned 1,462,223 shares in the company, valued at $16,742,453.35. The trade was a 6.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction 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 approximately $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. Over the last 90 days, insiders have sold 3,464,462 shares of company stock valued at $39,098,856. Company insiders own 7.90% 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.