Bank of Montreal Can Sells 4,627 Shares of Roivant Sciences Ltd. $ROIV

Bank of Montreal Can trimmed its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,353 shares of the company’s stock after selling 4,627 shares during the quarter. Bank of Montreal Can’s holdings in Roivant Sciences were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Amundi grew its position in Roivant Sciences by 18.1% in the first quarter. Amundi now owns 398,729 shares of the company’s stock valued at $3,991,000 after acquiring an additional 61,214 shares during the period. Inspire Investing LLC bought a new position in shares of Roivant Sciences during the first quarter valued at $303,000. IFG Advisory LLC acquired a new stake in shares of Roivant Sciences in the 2nd quarter valued at $255,000. Peak Financial Advisors LLC bought a new stake in shares of Roivant Sciences in the 2nd quarter worth about $472,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Roivant Sciences during the 2nd quarter worth about $3,064,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 539,650 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $20.51, for a total value of $11,068,221.50. Following the transaction, the insider directly owned 33,653,756 shares in the company, valued at $690,238,535.56. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction on Friday, November 7th. The stock was sold at an average price of $20.22, for a total transaction of $4,044,000.00. Following the sale, the chief executive officer directly owned 1,504,959 shares of the company’s stock, valued at $30,430,270.98. This represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,183,561 shares of company stock valued at $117,258,750. 10.80% of the stock is owned by corporate insiders.

Roivant Sciences Stock Down 0.2%

Shares of ROIV stock opened at $20.52 on Wednesday. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of -36.64 and a beta of 1.23. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $21.35. The stock has a 50-day moving average price of $17.29 and a 200 day moving average price of $13.49.

Analysts Set New Price Targets

ROIV has been the topic of a number of recent analyst reports. HC Wainwright boosted their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. lifted their target price on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Jefferies Financial Group boosted their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Weiss Ratings raised Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $29.00 price objective on shares of Roivant Sciences in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

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.