Roivant Sciences Ltd. $ROIV Stock Position Raised by Credit Industriel ET Commercial

Credit Industriel ET Commercial raised its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Credit Industriel ET Commercial’s holdings in Roivant Sciences were worth $1,747,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ROIV. Nuveen LLC bought a new position in shares of Roivant Sciences in the 1st quarter valued at approximately $31,988,000. Cutter Capital Management LP bought a new position in Roivant Sciences in the 1st quarter worth $13,117,000. Troluce Capital Advisors LLC bought a new position in Roivant Sciences in the 1st quarter worth $7,187,000. BlackBarn Capital Partners LP raised its holdings in Roivant Sciences by 15.2% in the 1st quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock worth $47,928,000 after acquiring an additional 625,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Roivant Sciences by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock worth $40,362,000 after purchasing an additional 560,641 shares during the period. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Trading Up 1.1%

ROIV stock opened at $16.21 on Tuesday. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $16.79. The firm has a market cap of $11.07 billion, a P/E ratio of -23.16 and a beta of 1.20. The business’s 50 day moving average is $13.54 and its 200-day moving average is $11.84.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ROIV. Jefferies Financial Group lifted their price objective on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Roivant Sciences in a research report on Wednesday, October 8th. Leerink Partners boosted their price objective on shares of Roivant Sciences from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Bank of America boosted their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a “neutral” rating in a report on Thursday, September 18th. Finally, HC Wainwright boosted their price target on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Roivant Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $19.94.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 385,816 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $12.96, for a total value of $5,000,175.36. Following the sale, the insider directly owned 35,508,359 shares in the company, valued at $460,188,332.64. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric Venker sold 138,602 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $16.20, for a total value of $2,245,352.40. Following the completion of the sale, the chief executive officer owned 1,504,959 shares in the company, valued at $24,380,335.80. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,351,908 shares of company stock worth $61,084,800 over the last three months. Company insiders own 10.80% of the company’s stock.

Roivant Sciences Company 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.