State of New Jersey Common Pension Fund D Increases Stake in Roivant Sciences

On February 22, 2025, it was reported that the State of New Jersey Common Pension Fund D has boosted its investment in Roivant Sciences Ltd. (NASDAQ:ROIV) by 10.2% during the fourth quarter. This means that the fund now holds a total of 185,602 shares after acquiring an extra 17,217 shares in this timeframe. At the close of the latest reporting period, these holdings were valued at approximately $2,196,000.

In addition to the New Jersey pension fund, other institutional investors and hedge funds are also actively increasing their stakes in Roivant Sciences. For instance, Nordea Investment Management AB raised its position by 22.5% in the last quarter and now owns 282,834 shares valued at about $3,306,000 after buying an additional 52,031 shares. TOMS Capital Investment Management LP made a notable entry by acquiring a new stake in Roivant Sciences worth around $46,333,000 during the third quarter.

Furthermore, Barclays PLC increased its investment in Roivant Sciences by 19.7%, securing 459,521 shares worth approximately $5,302,000 after purchasing an additional 75,609 shares. Loomis Sayles & Co. L P, another institutional investor, raised its stake by 13.3%, resulting in ownership of 3,912,205 shares valued at $45,147,000 after acquiring 458,601 more shares. Meanwhile, the Retirement Systems of Alabama also increased its investment by 26.9%, now holding 530,022 shares worth $6,116,000 after buying 112,286 more shares. Overall, institutional investors collectively own 64.76% of Roivant Sciences' stock.

Analyst Insights

Several research analysts have recently provided their assessments regarding the stock. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating on January 30. Investigations by HC Wainwright reaffirmed a "buy" rating with a target price of $18.00 in a report dated February 11. Currently, one analyst has given the stock a hold rating, while five have rated it as a buy, and another has deemed it a strong buy. The consensus rating for Roivant Sciences stands at "Buy" with an average price target of $18.08, according to MarketBeat.com.

Market Performance

On the trading day follow the announcement, shares of Roivant Sciences opened at $10.68. The company boasts a market capitalization of $7.62 billion along with a P/E ratio of -71.20 and a beta of 1.25. Over the past year, Roivant Sciences has experienced a low of $9.76 and a high of $13.06. The company’s 50-day moving average price is $11.21, while its 200-day moving average stands at $11.58.

The last earnings report from Roivant Sciences was released on February 10, where it reported earnings of ($0.20) per share, surpassing the consensus expectation of a loss of ($0.24). The company has recorded a negative return on equity of 14.05% and a negative net margin of 119.54%. Analysts predict that Roivant Sciences Ltd. will conclude the current fiscal year with an EPS of -0.92.

Insider Transactions

Significant insider trading activity was also reported recently. On January 13, a director at Roivant Sciences purchased a staggering 16,845,010 shares at an average price of $20.00 per share, totaling $336,900,200. Following this acquisition, the director's total shareholding increased to 96,650,341 shares, representing a value of about $1,933,006,820. Conversely, COO Eric Venker sold 100,000 shares on December 20 at an average price of $11.49, amounting to $1,149,000. After this sale, Venker owns 595,580 shares valued at $6,843,214. Insider transactions show that over the last quarter, insiders have disposed of 2,288,170 shares worth $26,547,299. Company insiders currently hold 7.90% of the total shares.

About Roivant Sciences

Roivant Sciences Ltd. is a biopharmaceutical company that focuses on developing and commercializing medicines primarily in the fields of inflammation and immunology. The company utilizes a strategy called "Vants" to facilitate the development and commercialization of its medicines and technologies, targeting biopharmaceutical businesses, startups in discovery phases, and health technology ventures.

NewJersey, Pension, Investment