Retirement Systems of Alabama Increases Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Retirement Systems of Alabama increased its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 26.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,022 shares of the company’s stock after purchasing an additional 112,286 shares during the period. Retirement Systems of Alabama’s holdings in Roivant Sciences were worth $6,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TOMS Capital Investment Management LP purchased a new position in shares of Roivant Sciences in the 3rd quarter valued at $46,333,000. Rubric Capital Management LP increased its position in shares of Roivant Sciences by 15.0% during the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after purchasing an additional 3,000,000 shares in the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Roivant Sciences in the 2nd quarter valued at about $31,182,000. FMR LLC grew its stake in Roivant Sciences by 5.6% during the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after buying an additional 2,593,910 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Roivant Sciences by 23.2% during the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock worth $89,400,000 after buying an additional 1,460,205 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Stock Down 3.8 %

Shares of ROIV opened at $11.69 on Thursday. The company has a market capitalization of $8.51 billion, a PE ratio of 2.07 and a beta of 1.25. Roivant Sciences Ltd. has a 52-week low of $9.69 and a 52-week high of $13.06. The company has a 50-day simple moving average of $11.92 and a 200-day simple moving average of $11.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.93.

Insider Buying and Selling at Roivant Sciences

In other news, Director Financial Lp Qvt sold 876,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $11.82, for a total value of $10,354,320.00. Following the sale, the director now directly owns 22,179,358 shares in the company, valued at $262,160,011.56. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the transaction, the chief operating officer now directly owns 606,525 shares of the company’s stock, valued at approximately $6,865,863. This trade 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 sold 3,677,309 shares of company stock valued at $43,283,184. Corporate insiders own 7.90% of the company’s stock.

About Roivant Sciences

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.