MetLife Investment Management LLC Has $2.60 Million Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

MetLife Investment Management LLC boosted its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 26.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,320 shares of the company’s stock after purchasing an additional 46,879 shares during the period. MetLife Investment Management LLC’s holdings in Roivant Sciences were worth $2,600,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ROIV. nVerses Capital LLC acquired a new stake in Roivant Sciences during the 2nd quarter worth about $34,000. Gladius Capital Management LP acquired a new stake in Roivant Sciences during the 3rd quarter worth about $35,000. Point72 Hong Kong Ltd acquired a new stake in Roivant Sciences during the 2nd quarter worth about $36,000. US Bancorp DE grew its holdings in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after acquiring an additional 1,948 shares during the period. Finally, Quarry LP acquired a new stake in Roivant Sciences during the 2nd quarter worth about $53,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In other news, CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the sale, the chief executive officer now owns 17,870,543 shares in the company, valued at $210,693,701.97. This trade represents a 9.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Rakhi Kumar sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was 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 owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. The trade was a 54.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,677,309 shares of company stock valued at $43,283,184. 7.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $12.11 on Thursday. Roivant Sciences Ltd. has a fifty-two week low of $9.48 and a fifty-two week high of $13.06. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 2.14 and a beta of 1.25. The firm’s 50-day simple moving average is $11.79 and its 200 day simple moving average is $11.40.

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.