Knott David M Jr Cuts Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Knott David M Jr lessened its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 93.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,005 shares of the company's stock after selling 57,578 shares during the quarter. Knott David M Jr's holdings in Roivant Sciences were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROIV. Vanguard Group Inc. increased its position in Roivant Sciences by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock worth $521,553,000 after purchasing an additional 2,404,232 shares during the last quarter. State Street Corp raised its position in Roivant Sciences by 6.1% during the third quarter. State Street Corp now owns 19,561,249 shares of the company's stock valued at $225,737,000 after purchasing an additional 1,118,561 shares during the period. Geode Capital Management LLC lifted its stake in shares of Roivant Sciences by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 7,771,831 shares of the company's stock valued at $91,968,000 after purchasing an additional 26,727 shares during the last quarter. Norges Bank bought a new stake in shares of Roivant Sciences in the 4th quarter valued at approximately $52,443,000. Finally, TOMS Capital Investment Management LP purchased a new position in shares of Roivant Sciences in the 3rd quarter worth approximately $46,333,000. Institutional investors own 64.76% of the company's stock.

Insider Buying and Selling

In other news, COO Eric Venker sold 434,478 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.82, for a total transaction of $4,701,051.96. Following the transaction, the chief operating officer now directly owns 1,127,290 shares of the company's stock, valued at approximately $12,197,277.80. This trade represents a 27.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 1,395,541 shares of company stock valued at $15,028,538 in the last 90 days. Company insiders own 7.90% of the company's stock.

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Roivant Sciences Price Performance

Shares of ROIV traded down $0.55 during mid-day trading on Friday, reaching $9.46. 10,135,922 shares of the company's stock traded hands, compared to its average volume of 5,316,109. Roivant Sciences Ltd. has a 12 month low of $9.42 and a 12 month high of $13.06. The stock has a market cap of $6.75 billion, a P/E ratio of -63.06 and a beta of 1.26. The stock's 50-day moving average is $10.62 and its two-hundred day moving average is $11.33.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its 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 return on equity of 14.05% and a negative net margin of 119.54%. Research analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

ROIV has been the topic of several recent research reports. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Tuesday, February 11th.

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.