Fifth Third Bancorp Sells 1,829 Shares of Roivant Sciences Ltd. $ROIV

Fifth Third Bancorp lowered its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 35.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,289 shares of the company’s stock after selling 1,829 shares during the period. Fifth Third Bancorp’s holdings in Roivant Sciences were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Roivant Sciences by 1,746.5% during the 1st quarter. GAMMA Investing LLC now owns 65,514 shares of the company’s stock worth $6,493,000 after purchasing an additional 61,966 shares during the last quarter. Parallel Advisors LLC increased its position in Roivant Sciences by 80.5% during the first 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 last quarter. UMB Bank n.a. increased its position in Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after buying an additional 2,195 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Roivant Sciences during the first quarter valued at about $570,000. Finally, Penn Davis Mcfarland Inc. lifted its position in shares of Roivant Sciences by 3.5% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company’s stock worth $17,226,000 after buying an additional 58,206 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In related news, CEO Eric Venker sold 683,818 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.95, for a total value of $10,223,079.10. Following the sale, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Gline purchased 3,315 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was acquired at an average cost of $15.07 per share, with a total value of $49,957.05. Following the transaction, the chief executive officer directly owned 17,287,081 shares of the company’s stock, valued at approximately $260,516,310.67. This represents a 0.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,686,749 shares of company stock worth $50,302,987. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim increased their price objective on Roivant Sciences from $15.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, September 18th. HC Wainwright increased their price target on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 18th. The Goldman Sachs Group boosted their price objective on shares of Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Leerink Partners upped their price objective on shares of Roivant Sciences from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, Jefferies Financial Group lifted their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $19.94.

Roivant Sciences Stock Up 1.5%

Shares of ROIV opened at $15.98 on Friday. The stock’s 50-day moving average price is $12.88 and its 200 day moving average price is $11.56. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of -22.83 and a beta of 1.20. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $16.15.

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.