State of New Jersey Common Pension Fund D Has $1.94 Million Stake in Roivant Sciences Ltd. $ROIV

State of New Jersey Common Pension Fund D trimmed its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,161 shares of the company’s stock after selling 11,728 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Roivant Sciences were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ROIV. Nuveen LLC acquired a new position in Roivant Sciences during the first quarter worth $31,988,000. Cutter Capital Management LP acquired a new position in Roivant Sciences during the first quarter worth $13,117,000. Troluce Capital Advisors LLC bought a new position in shares of Roivant Sciences during the 1st quarter worth approximately $7,187,000. BlackBarn Capital Partners LP boosted its stake in shares of Roivant Sciences by 15.2% during 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 boosted its stake in shares of Roivant Sciences by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock worth $40,362,000 after acquiring an additional 560,641 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ROIV shares. Leerink Partners lifted their target price on Roivant Sciences from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Guggenheim lifted their target price on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Citigroup lifted their target price on Roivant Sciences from $16.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price 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, Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Roivant Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $21.06.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $19.99 on Friday. The stock has a market capitalization of $13.65 billion, a PE ratio of -28.56 and a beta of 1.20. The business has a fifty day moving average price of $15.33 and a two-hundred day moving average price of $12.64. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $20.08.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total value of $14,937,500.00. Following the completion of the transaction, the insider directly owned 36,089,108 shares of the company’s stock, valued at $451,113,850. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Venker sold 683,818 shares of Roivant Sciences stock in a transaction on Friday, September 19th. The shares were sold at an average price of $14.95, for a total value of $10,223,079.10. Following the completion of the transaction, the chief executive officer directly owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,228,958 shares of company stock valued at $76,447,638 over the last ninety days. 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.