Charles Schwab Investment Management Inc. Grows Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Charles Schwab Investment Management Inc. lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 30.5% in the third quarter, Holdings Channel reports. The firm owned 2,767,412 shares of the company’s stock after buying an additional 646,627 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Roivant Sciences were worth $31,936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ROIV. nVerses Capital LLC purchased a new stake in shares of Roivant Sciences during the second quarter worth about $34,000. Gladius Capital Management LP purchased a new stake in shares of Roivant Sciences during the third quarter worth about $35,000. Point72 Hong Kong Ltd purchased a new stake in Roivant Sciences during the 2nd quarter valued at about $36,000. US Bancorp DE grew its stake in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock valued at $38,000 after acquiring an additional 1,948 shares in the last quarter. Finally, Quarry LP purchased a new stake in Roivant Sciences during the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ROIV shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday, November 13th. Bank of America upped their price objective 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 reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.93.

Insider Transactions at Roivant Sciences

In other Roivant Sciences 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 transaction 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 represents a 54.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Gline sold 1,983,257 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the sale, the chief executive officer now owns 17,870,543 shares in the company, valued at approximately $210,693,701.97. This trade represents a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,677,309 shares of company stock worth $43,283,184. 7.90% of the stock is currently owned by insiders.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $12.12 on Wednesday. The firm’s 50 day moving average price is $11.78 and its 200-day moving average price is $11.39. Roivant Sciences Ltd. has a one year low of $9.48 and a one year high of $13.06. The firm has a market cap of $8.82 billion, a P/E ratio of 2.15 and a beta of 1.25.

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.