State of New Jersey Common Pension Fund D Sells 4,947 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

State of New Jersey Common Pension Fund D lowered its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,385 shares of the company’s stock after selling 4,947 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Roivant Sciences were worth $1,943,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new position in Roivant Sciences in the second quarter valued at about $34,000. Point72 Hong Kong Ltd bought a new position in shares of Roivant Sciences during the second quarter worth about $36,000. US Bancorp DE boosted its position in Roivant Sciences by 146.5% during the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock valued at $38,000 after purchasing an additional 1,948 shares during the last quarter. Quarry LP acquired a new position in Roivant Sciences during the second quarter valued at approximately $53,000. Finally, Acadian Asset Management LLC acquired a new position in Roivant Sciences during the first quarter valued at approximately $72,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Stock Down 3.8 %

ROIV stock opened at $11.20 on Monday. Roivant Sciences Ltd. has a 12-month low of $8.56 and a 12-month high of $13.06. The business has a 50 day moving average of $11.75 and a 200-day moving average of $11.32. The firm has a market cap of $8.28 billion, a PE ratio of 1.98 and a beta of 1.24.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, COO Eric Venker sold 100,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the transaction, the chief operating officer now owns 617,470 shares of the company’s stock, valued at $7,193,525.50. This represents a 13.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Financial Lp Qvt sold 876,000 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $11.82, for a total value of $10,354,320.00. Following the completion of the transaction, the director now directly owns 22,179,358 shares in the company, valued at approximately $262,160,011.56. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,577,309 shares of company stock worth $42,151,184 over the last 90 days. Corporate insiders own 7.90% 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.