Mirae Asset Global Investments Co. Ltd. Buys 42,379 Shares of Roivant Sciences Ltd. $ROIV

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,379 shares of the company’s stock, valued at approximately $1,550,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in shares of Roivant Sciences during the 3rd quarter worth about $25,000. Parallel Advisors LLC lifted its stake in shares of Roivant Sciences by 33.7% in the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock valued at $57,000 after buying an additional 520 shares during the period. Bessemer Group Inc. lifted its stake in shares of Roivant Sciences by 21.8% in the first quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock valued at $69,000 after buying an additional 441 shares during the period. Root Financial Partners LLC bought a new stake in shares of Roivant Sciences in the third quarter valued at about $120,000. Finally, Acropolis Investment Management LLC acquired a new stake in Roivant Sciences during the third quarter worth about $134,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roivant Sciences

In other news, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $36.31, for a total value of $7,262,000.00. Following the sale, the chief executive officer owned 999,154 shares in the company, valued at approximately $36,279,281.74. The trade was a 16.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 144,756 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $36.48, for a total transaction of $5,280,698.88. Following the completion of the sale, the insider owned 18,630,739 shares in the company, valued at $679,649,358.72. This represents a 0.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,022,688 shares of company stock worth $73,438,636 over the last three months. Company insiders own 8.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROIV. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Jefferies Financial Group raised their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. Finally, Citigroup boosted their price objective on Roivant Sciences from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $38.88 on Friday. Roivant Sciences Ltd. has a 52 week low of $19.79 and a 52 week high of $42.50. The company has a 50-day moving average of $36.69 and a 200-day moving average of $31.80. The company has a market capitalization of $28.08 billion, a price-to-earnings ratio of -73.36 and a beta of 1.23.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. Sell-side analysts forecast that Roivant Sciences Ltd. will post -2.00 EPS for the current year.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.