Geode Capital Management LLC Trims Stake in Roivant Sciences Ltd. $ROIV

Geode Capital Management LLC lessened its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.7% in the second quarter, HoldingsChannel reports. The firm owned 7,750,399 shares of the company’s stock after selling 216,986 shares during the quarter. Geode Capital Management LLC’s holdings in Roivant Sciences were worth $87,361,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Roivant Sciences by 10.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,478 shares of the company’s stock worth $1,034,000 after purchasing an additional 9,357 shares during the period. Corton Capital Inc. bought a new stake in shares of Roivant Sciences during the 1st quarter valued at $111,000. XTX Topco Ltd grew its position in shares of Roivant Sciences by 634.1% in the 1st quarter. XTX Topco Ltd now owns 256,714 shares of the company’s stock worth $2,590,000 after buying an additional 221,742 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Roivant Sciences by 44.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the company’s stock worth $103,000 after buying an additional 3,169 shares during the period. Finally, New Age Alpha Advisors LLC increased its stake in shares of Roivant Sciences by 37.1% in the 1st quarter. New Age Alpha Advisors LLC now owns 21,966 shares of the company’s stock worth $222,000 after acquiring an additional 5,943 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Stock Down 0.2%

Shares of NASDAQ ROIV opened at $20.22 on Friday. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $21.35. The firm has a market cap of $13.81 billion, a P/E ratio of -36.11 and a beta of 1.23. The company has a 50 day moving average of $17.66 and a 200 day moving average of $13.64.

Analyst Upgrades and Downgrades

ROIV has been the topic of several research reports. 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 research note on Thursday, September 18th. Guggenheim reiterated a “buy” rating and set a $25.00 target price on shares of Roivant Sciences in a report on Friday, November 14th. JPMorgan Chase & Co. boosted their price target on Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. The Goldman Sachs Group upped their price target on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Finally, Citigroup raised their price objective on Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Insiders Place Their Bets

In related news, Director Daniel Allen Gold sold 1,300,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $20.23, for a total transaction of $26,299,000.00. Following the sale, the director directly owned 18,047,727 shares of the company’s stock, valued at $365,105,517.21. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $20.22, for a total value of $4,044,000.00. Following the completion of the sale, the chief executive officer owned 1,504,959 shares of the company’s stock, valued at $30,430,270.98. The trade was a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,483,561 shares of company stock valued at $143,557,750. Corporate insiders own 10.80% 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.