Public Employees Retirement System of Ohio Buys 20,868 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Public Employees Retirement System of Ohio boosted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 154,495 shares of the company’s stock after purchasing an additional 20,868 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Roivant Sciences were worth $1,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TOMS Capital Investment Management LP acquired a new position in shares of Roivant Sciences in the 3rd quarter worth approximately $46,333,000. Rubric Capital Management LP raised its position in Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after purchasing an additional 3,000,000 shares during the last quarter. Troluce Capital Advisors LLC acquired a new position in Roivant Sciences in the second quarter worth $31,182,000. FMR LLC grew its holdings in shares of Roivant Sciences by 5.6% during the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after purchasing an additional 2,593,910 shares during the last quarter. Finally, BlackBarn Capital Partners LP increased its stake in shares of Roivant Sciences by 63.1% in the second quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after buying an additional 1,199,406 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Price Performance

ROIV opened at $11.69 on Thursday. The firm has a 50 day simple moving average of $11.92 and a 200 day simple moving average of $11.47. Roivant Sciences Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $13.06. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 2.07 and a beta of 1.25.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROIV. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, November 13th. Bank of America increased their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.93.

Insiders Place Their Bets

In related news, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now directly owns 209,322 shares in the company, valued at $2,488,838.58. This trade represents a 54.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the transaction, the chief operating officer now owns 606,525 shares of the company’s stock, valued at approximately $6,865,863. This represents a 14.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,677,309 shares of company stock valued at $43,283,184. Company insiders own 7.90% of the company’s stock.

Roivant Sciences 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.