Sumitomo Mitsui Trust Group Inc. Buys New Position in Roivant Sciences Ltd. $ROIV

Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 974,130 shares of the company’s stock, valued at approximately $35,624,000.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in Roivant Sciences by 179.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company’s stock valued at $95,124,000 after buying an additional 1,724,588 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Roivant Sciences during the 1st quarter worth $45,066,000. Assenagon Asset Management S.A. boosted its holdings in Roivant Sciences by 18.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock valued at $295,965,000 after acquiring an additional 1,286,464 shares during the last quarter. Affinity Asset Advisors LLC increased its position in Roivant Sciences by 64.7% in the first quarter. Affinity Asset Advisors LLC now owns 2,800,000 shares of the company’s stock worth $77,560,000 after purchasing an additional 1,100,000 shares during the period. Finally, California Public Employees Retirement System bought a new position in shares of Roivant Sciences in the 1st quarter valued at about $19,154,000. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Price Performance

ROIV stock opened at $38.23 on Thursday. Roivant Sciences Ltd. has a 1-year low of $19.61 and a 1-year high of $42.50. The stock’s fifty day simple moving average is $36.67 and its two-hundred day simple moving average is $31.66.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. The firm had revenue of $1.44 million for the quarter, compared to analysts’ expectations of $2.06 million. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -2.00 earnings per share for the current fiscal year.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, Director Melissa Epperly sold 17,750 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $36.10, for a total value of $640,775.00. Following the sale, the director owned 14,954 shares in the company, valued at approximately $539,839.40. This represents a 54.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $36.59, for a total value of $7,318,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,199,154 shares in the company, valued at approximately $43,877,044.86. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,822,688 shares of company stock worth $66,176,636 over the last ninety days. 8.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ROIV has been the subject of a number of analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a report on Wednesday, October 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. Stifel Nicolaus started coverage on Roivant Sciences in a research report on Wednesday, September 16th. They set a “buy” rating and a $51.00 price target on the stock. HC Wainwright lifted their price target on Roivant Sciences from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group upped their price target on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Roivant Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

Roivant Sciences Company Profile

Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.