Roivant Sciences Ltd. (NASDAQ:ROIV) Stock Position Lowered by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Posted by Defense World Staff on May 9th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its position in Roivant Sciences Ltd. (NASDAQ:ROIV – Get Rating) by 21.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,844 shares of the company’s stock after selling 10,871 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Roivant Sciences were worth $278,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Roivant Sciences by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 47,274 shares of the company’s stock worth $233,000 after buying an additional 4,335 shares in the last quarter. Citigroup Inc. lifted its position in Roivant Sciences by 1,803.6% in the 1st quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock worth $28,000 after buying an additional 5,447 shares in the last quarter. BlackRock Inc. lifted its position in Roivant Sciences by 3.0% in the 1st quarter. BlackRock Inc. now owns 4,044,419 shares of the company’s stock worth $19,980,000 after buying an additional 117,329 shares in the last quarter. Vanguard Group Inc. lifted its position in Roivant Sciences by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 1,319,499 shares of the company’s stock worth $6,519,000 after buying an additional 159,787 shares in the last quarter. Finally, American International Group Inc. purchased a new stake in Roivant Sciences in the 1st quarter worth approximately $8,965,000. Hedge funds and other institutional investors own 52.66% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $8.96 on Tuesday. Roivant Sciences Ltd. has a 1 year low of $2.52 and a 1 year high of $10.00. The firm’s fifty day simple moving average is $7.99 and its 200 day simple moving average is $7.40. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.80 billion, a PE ratio of -5.03 and a beta of 1.22.

Roivant Sciences (NASDAQ:ROIV – Get Rating) last posted its earnings results on Monday, February 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.13). Roivant Sciences had a negative net margin of 2,887.92% and a negative return on equity of 73.96%. The firm had revenue of $17.05 million during the quarter, compared to analyst estimates of $14.29 million. On average, sell-side analysts anticipate that Roivant Sciences Ltd. will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ROIV shares. JPMorgan Chase & Co. increased their target price on shares of Roivant Sciences from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, February 13th. The Goldman Sachs Group raised their price target on shares of Roivant Sciences from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Roivant Sciences in a report on Thursday, March 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.00.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 61,206 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $8.93, for a total value of $546,569.58. Following the sale, the chief operating officer now directly owns 675,768 shares in the company, valued at approximately $6,034,608.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roivant Sciences news, COO Eric Venker sold 61,206 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $8.93, for a total value of $546,569.58. Following the sale, the chief operating officer now directly owns 675,768 shares in the company, valued at approximately $6,034,608.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rakhi Kumar sold 15,517 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $8.42, for a total transaction of $130,653.14. Following the completion of the sale, the chief accounting officer now owns 200,139 shares in the company, valued at $1,685,170.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,509,880 shares of company stock worth $132,131,966. 13.00% of the stock is owned by insiders.

Roivant Sciences Profile

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Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops medicines. The company develops product candidates for the treatment of various therapeutics, including solid tumors, sickle cell diseases, hypophosphatasia, oncologic malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, warm autoimmune hemolytic anemia, thyroid eye diseases, sarcoidosis, and staph aureus bacteremia.