Fmr LLC Has $567.13 Million Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Fmr LLC raised its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,145,056 shares of the company’s stock after acquiring an additional 2,593,910 shares during the quarter. Fmr LLC owned approximately 6.65% of Roivant Sciences worth $567,134,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ROIV. Rubric Capital Management LP lifted its stake in Roivant Sciences by 15.0% in the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after acquiring an additional 3,000,000 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in Roivant Sciences in the second quarter valued at $31,182,000. BlackBarn Capital Partners LP lifted its stake in Roivant Sciences by 63.1% in the second quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after acquiring an additional 1,199,406 shares during the last quarter. Vanguard Group Inc. lifted its stake in Roivant Sciences by 14.6% in the first quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock valued at $85,441,000 after acquiring an additional 1,030,681 shares during the last quarter. Finally, Sofinnova Investments Inc. lifted its stake in shares of Roivant Sciences by 86.5% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,868,412 shares of the company’s stock worth $19,749,000 after buying an additional 866,708 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $12.69 on Friday. Roivant Sciences Ltd. has a 52 week low of $8.87 and a 52 week high of $13.06. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 2.25 and a beta of 1.24. The firm’s 50-day simple moving average is $11.75 and its 200 day simple moving average is $11.37.

Insider Buying and Selling

In other Roivant Sciences news, CAO Rakhi Kumar sold 250,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the transaction, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. This trade represents a 54.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the completion of the transaction, the chief operating officer now directly owns 606,525 shares in the company, valued at approximately $6,865,863. This represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,677,309 shares of company stock valued at $43,283,184. 7.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ROIV. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, November 13th. Bank of America raised their target price on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.93.

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.