KLP Kapitalforvaltning AS bought a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 77,600 shares of the company's stock, valued at approximately $918,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Roivant Sciences by 30.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,767,412 shares of the company's stock valued at $31,936,000 after purchasing an additional 646,627 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Roivant Sciences by 10.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 356,600 shares of the company's stock valued at $4,115,000 after buying an additional 34,641 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Roivant Sciences by 26.3% in the third quarter. MetLife Investment Management LLC now owns 225,320 shares of the company's stock valued at $2,600,000 after buying an additional 46,879 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Roivant Sciences by 49.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,307,178 shares of the company's stock worth $26,625,000 after acquiring an additional 762,953 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Roivant Sciences in the third quarter worth $557,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.
Roivant Sciences Price Performance
Roivant Sciences stock traded down $0.55 during trading hours on Friday, hitting $9.46. The stock had a trading volume of 10,135,922 shares, compared to its average volume of 5,313,953. Roivant Sciences Ltd. has a 1-year low of $9.42 and a 1-year high of $13.06. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of -63.06 and a beta of 1.25. The stock's fifty day moving average is $10.62 and its two-hundred day moving average is $11.33.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. As a group, sell-side analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th.
Read Our Latest Stock Report on Roivant Sciences
Insider Activity at Roivant Sciences
In other news, CAO Rakhi Kumar sold 227,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the transaction, the chief accounting officer now directly owns 163,264 shares in the company, valued at $1,702,843.52. This trade represents a 58.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eric Venker sold 434,478 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.82, for a total value of $4,701,051.96. Following the completion of the sale, the chief operating officer now owns 1,127,290 shares of the company's stock, valued at approximately $12,197,277.80. This represents a 27.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,395,541 shares of company stock valued at $15,028,538. 7.90% of the stock is owned by corporate insiders.
About Roivant Sciences
(
Free Report)
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.
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