Norges Bank Acquires Shares of 4,433,014 Roivant Sciences Ltd. (NASDAQ:ROIV)

Norges Bank purchased a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,433,014 shares of the company's stock, valued at approximately $52,443,000. Norges Bank owned about 0.61% of Roivant Sciences as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Roivant Sciences by 57.0% in the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company's stock valued at $42,000 after buying an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Roivant Sciences by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock valued at $84,000 after acquiring an additional 1,507 shares during the period. Quarry LP grew its position in shares of Roivant Sciences by 50.0% in the third quarter. Quarry LP now owns 7,500 shares of the company's stock valued at $87,000 after purchasing an additional 2,500 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Roivant Sciences by 550.1% in the fourth quarter. Blue Trust Inc. now owns 7,879 shares of the company's stock worth $91,000 after purchasing an additional 6,667 shares during the period. Finally, HighTower Advisors LLC bought a new stake in Roivant Sciences during the 4th quarter valued at approximately $121,000. Institutional investors own 64.76% of the company's stock.

Insider Activity

In other Roivant Sciences news, CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences 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 sale, the chief accounting officer now directly owns 163,264 shares of the company's stock, valued at approximately $1,702,843.52. The trade was a 58.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the stock in a transaction dated Monday, January 13th. The stock was bought at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the purchase, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 1,395,541 shares of company stock worth $15,028,538. 7.90% of the stock is currently owned by corporate insiders.

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Roivant Sciences Trading Up 8.9 %

ROIV traded up $0.81 on Wednesday, hitting $9.89. 9,751,882 shares of the stock traded hands, compared to its average volume of 5,375,760. The business has a fifty day moving average price of $10.50 and a two-hundred day moving average price of $11.27. The firm has a market capitalization of $7.06 billion, a PE ratio of -65.93 and a beta of 1.25. Roivant Sciences Ltd. has a 52 week low of $8.52 and a 52 week high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cantor Fitzgerald raised Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Tuesday, February 11th.

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.