State of Alaska Department of Revenue Sells 2,000 Shares of Roivant Sciences Ltd. $ROIV

State of Alaska Department of Revenue lessened its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,290 shares of the company’s stock after selling 2,000 shares during the quarter. State of Alaska Department of Revenue’s holdings in Roivant Sciences were worth $532,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ROIV. Nuveen LLC acquired a new position in Roivant Sciences during the first quarter worth $31,988,000. Cutter Capital Management LP acquired a new position in shares of Roivant Sciences in the first quarter valued at about $13,117,000. Troluce Capital Advisors LLC acquired a new position in shares of Roivant Sciences in the first quarter valued at about $7,187,000. BlackBarn Capital Partners LP grew its stake in shares of Roivant Sciences by 15.2% in the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock valued at $47,928,000 after acquiring an additional 625,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Roivant Sciences by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock valued at $40,362,000 after acquiring an additional 560,641 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 385,816 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the completion of the sale, the insider owned 35,508,359 shares of the company’s stock, valued at approximately $460,188,332.64. This represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Gline acquired 3,315 shares of Roivant Sciences stock in a transaction dated Thursday, September 18th. The shares were bought at an average cost of $15.07 per share, with a total value of $49,957.05. Following the transaction, the chief executive officer owned 17,287,081 shares in the company, valued at approximately $260,516,310.67. This trade represents a 0.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 4,351,908 shares of company stock valued at $61,084,800. 10.80% of the stock is currently owned by company insiders.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $16.03 on Thursday. The company has a market capitalization of $10.95 billion, a PE ratio of -22.90 and a beta of 1.20. The company has a 50 day simple moving average of $13.26 and a two-hundred day simple moving average of $11.71. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $16.79.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ROIV. Jefferies Financial Group upped their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. upped their price objective on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Guggenheim increased their target price on shares of Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Citigroup began coverage on shares of Roivant Sciences in a report on Tuesday, September 2nd. They issued a “buy” rating and a $16.00 target price for the company. Finally, The Goldman Sachs Group increased their target price on shares of Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.94.

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.