Handelsbanken Fonder AB Sells 78,300 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Handelsbanken Fonder AB cut its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 40.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 113,109 shares of the company's stock after selling 78,300 shares during the period. Handelsbanken Fonder AB's holdings in Roivant Sciences were worth $1,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROIV. FMR LLC grew its position in Roivant Sciences by 5.6% during the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company's stock worth $567,134,000 after purchasing an additional 2,593,910 shares in the last quarter. State Street Corp boosted its holdings in shares of Roivant Sciences by 6.1% in the 3rd quarter. State Street Corp now owns 19,561,249 shares of the company's stock worth $225,737,000 after acquiring an additional 1,118,561 shares in the last quarter. Geode Capital Management LLC boosted its position in Roivant Sciences by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company's stock valued at $89,400,000 after buying an additional 1,460,205 shares during the last quarter. TOMS Capital Investment Management LP bought a new position in shares of Roivant Sciences in the 3rd quarter worth $46,333,000. Finally, Loomis Sayles & Co. L P increased its position in shares of Roivant Sciences by 13.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company's stock valued at $45,147,000 after buying an additional 458,601 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

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Roivant Sciences Trading Up 3.5 %

ROIV stock traded up $0.36 during midday trading on Friday, hitting $10.74. The company's stock had a trading volume of 5,955,107 shares, compared to its average volume of 4,289,285. Roivant Sciences Ltd. has a 12 month low of $9.76 and a 12 month high of $13.06. The company has a market cap of $7.66 billion, a PE ratio of -71.60 and a beta of 1.25. The firm's 50-day moving average is $11.08 and its 200-day moving average is $11.58.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates 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%. Analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ROIV shares. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Tuesday, February 11th. Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Roivant Sciences has a consensus rating of "Buy" and an average price target of $18.08.

Insider Buying and Selling

In related news, COO Eric Venker sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the transaction, the chief operating officer now owns 896,869 shares in the company, valued at $9,551,654.85. The trade was a 10.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rakhi Kumar sold 227,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the transaction, the chief accounting officer now directly owns 163,264 shares of the company's stock, valued at $1,702,843.52. This represents a 58.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,388,170 shares of company stock valued at $27,612,299. Company 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.