Summit Investment Advisors Inc. Sells 3,192 Shares of Roivant Sciences Ltd. $ROIV

Summit Investment Advisors Inc. lessened its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,833 shares of the company’s stock after selling 3,192 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Roivant Sciences were worth $836,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of Roivant Sciences by 3.8% during the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company’s stock valued at $99,695,000 after acquiring an additional 365,468 shares during the last quarter. BlackBarn Capital Partners LP raised its stake in Roivant Sciences by 15.2% during the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock valued at $47,928,000 after purchasing an additional 625,000 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Roivant Sciences by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 4,506,400 shares of the company’s stock valued at $50,787,000 after purchasing an additional 506,219 shares during the last quarter. Nuveen LLC bought a new position in Roivant Sciences during the first quarter valued at $31,988,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Roivant Sciences by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,847,625 shares of the company’s stock worth $28,733,000 after buying an additional 35,123 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $20.22, for a total transaction of $4,044,000.00. Following the completion of the transaction, the chief executive officer owned 1,504,959 shares in the company, valued at $30,430,270.98. The trade was a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 5,428,958 shares of company stock worth $80,491,638. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Guggenheim boosted their price objective on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Leerink Partners restated an “outperform” rating and set a $29.00 price objective on shares of Roivant Sciences in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, HC Wainwright increased their price target on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.06.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $21.32 on Thursday. The firm has a market capitalization of $14.56 billion, a PE ratio of -38.07 and a beta of 1.23. The business has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $13.22. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $21.35.

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.