Pictet Asset Management Holding SA Sells 175,418 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Pictet Asset Management Holding SA trimmed its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 927,470 shares of the company's stock after selling 175,418 shares during the quarter. Pictet Asset Management Holding SA owned 0.13% of Roivant Sciences worth $10,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ROIV. New Age Alpha Advisors LLC acquired a new stake in Roivant Sciences during the 4th quarter worth $190,000. Norges Bank bought a new stake in shares of Roivant Sciences in the fourth quarter worth about $52,443,000. WINTON GROUP Ltd raised its position in shares of Roivant Sciences by 1.5% during the fourth quarter. WINTON GROUP Ltd now owns 92,526 shares of the company's stock worth $1,095,000 after purchasing an additional 1,332 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Roivant Sciences by 328.3% during the 4th quarter. EntryPoint Capital LLC now owns 53,443 shares of the company's stock valued at $632,000 after purchasing an additional 40,964 shares in the last quarter. Finally, United Services Automobile Association grew its position in shares of Roivant Sciences by 6.1% in the 4th quarter. United Services Automobile Association now owns 27,494 shares of the company's stock valued at $325,000 after purchasing an additional 1,588 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.

Insider Activity at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $11.28, for a total value of $1,128,000.00. Following the sale, the chief operating officer now directly owns 732,294 shares of the company's stock, valued at approximately $8,260,276.32. This represents a 12.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of Roivant Sciences stock in a transaction that occurred on Monday, January 13th. The shares were acquired at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the acquisition, the director now directly owns 96,650,341 shares of the company's stock, valued at $1,933,006,820. This trade represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,395,541 shares of company stock valued at $15,028,538. 7.90% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

Several analysts have commented on ROIV shares. HC Wainwright restated a "buy" rating and set a $18.00 target price 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 report on Tuesday, March 4th.

Roivant Sciences Stock Down 2.1 %

Shares of NASDAQ:ROIV traded down $0.20 during mid-day trading on Monday, reaching $9.26. 14,204,509 shares of the stock were exchanged, compared to its average volume of 5,349,374. The company has a market cap of $6.61 billion, a P/E ratio of -61.73 and a beta of 1.25. The stock's 50 day simple moving average is $10.58 and its 200-day simple moving average is $11.31. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) 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%. Analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

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.