Wellington Management Group LLP Reduces Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Wellington Management Group LLP trimmed its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,640,416 shares of the company’s stock after selling 1,202,560 shares during the period. Wellington Management Group LLP owned about 1.69% of Roivant Sciences worth $153,182,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ROIV. Charles Schwab Investment Management Inc. increased its holdings in Roivant Sciences by 207.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,923,879 shares of the company’s stock valued at $22,471,000 after acquiring an additional 1,297,134 shares in the last quarter. Citigroup Inc. increased its stake in shares of Roivant Sciences by 45.6% during the 3rd quarter. Citigroup Inc. now owns 326,431 shares of the company’s stock worth $3,813,000 after purchasing an additional 102,279 shares in the last quarter. Rhumbline Advisers raised its position in shares of Roivant Sciences by 35.7% during the 3rd quarter. Rhumbline Advisers now owns 407,351 shares of the company’s stock worth $4,758,000 after purchasing an additional 107,251 shares during the last quarter. Invesco Ltd. lifted its stake in Roivant Sciences by 3.6% in the 3rd quarter. Invesco Ltd. now owns 1,379,985 shares of the company’s stock valued at $16,118,000 after buying an additional 47,547 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Roivant Sciences during the 3rd quarter valued at $1,313,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Trading Up 1.1 %

ROIV stock opened at $10.84 on Thursday. Roivant Sciences Ltd. has a 52 week low of $8.24 and a 52 week high of $13.24. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 2.14 and a beta of 1.25. The company has a quick ratio of 25.24, a current ratio of 25.24 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $10.94 and a 200-day simple moving average of $10.85.

Analyst Upgrades and Downgrades

ROIV has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Tuesday. Truist Financial restated a “buy” rating and issued a $23.00 target price on shares of Roivant Sciences in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group upped their price objective on shares of Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Friday, May 31st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.90.

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.