M&T Bank Corp Invests $131,000 in Roivant Sciences Ltd. (NASDAQ:ROIV)

M&T Bank Corp acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) during the third quarter, Holdings Channel.com reports. The firm acquired 11,343 shares of the company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Roivant Sciences during the second quarter valued at approximately $34,000. Gladius Capital Management LP acquired a new position in Roivant Sciences in the 3rd quarter valued at $35,000. Point72 Hong Kong Ltd bought a new position in Roivant Sciences in the 2nd quarter worth $36,000. US Bancorp DE lifted its position in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after acquiring an additional 1,948 shares during the last quarter. Finally, Quarry LP bought a new stake in Roivant Sciences during the second quarter valued at about $53,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROIV. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, Bank of America raised their price objective 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.93.

Roivant Sciences Stock Performance

Roivant Sciences stock opened at $11.50 on Friday. Roivant Sciences Ltd. has a 52 week low of $9.69 and a 52 week high of $13.06. The firm has a market cap of $8.37 billion, a P/E ratio of 2.04 and a beta of 1.25. The business’s fifty day moving average is $11.91 and its two-hundred day moving average is $11.48.

Insiders Place Their Bets

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the transaction, the chief operating officer now directly owns 617,470 shares in the company, valued at approximately $7,193,525.50. This trade represents a 13.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. The trade was a 54.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,677,309 shares of company stock valued at $43,283,184 in the last 90 days. 7.90% of the stock is currently owned by insiders.

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.