Principal Financial Group Inc. Sells 25,239 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Principal Financial Group Inc. lowered its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 984,519 shares of the company's stock after selling 25,239 shares during the period. Principal Financial Group Inc. owned about 0.14% of Roivant Sciences worth $11,647,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Roivant Sciences by 57.0% in the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company's stock worth $42,000 after acquiring an additional 1,288 shares in the last quarter. Covestor Ltd grew its position in shares of Roivant Sciences by 9.1% in the 3rd quarter. Covestor Ltd now owns 19,190 shares of the company's stock valued at $222,000 after purchasing an additional 1,605 shares during the period. US Bancorp DE increased its stake in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company's stock worth $38,000 after purchasing an additional 1,948 shares in the last quarter. Quarry LP raised its holdings in Roivant Sciences by 50.0% during the 3rd quarter. Quarry LP now owns 7,500 shares of the company's stock worth $87,000 after buying an additional 2,500 shares during the period. Finally, Gladius Capital Management LP bought a new position in Roivant Sciences in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Stock Performance

Roivant Sciences stock traded down $0.56 during mid-day trading on Monday, reaching $10.18. The company's stock had a trading volume of 4,363,869 shares, compared to its average volume of 4,280,835. Roivant Sciences Ltd. has a 12 month low of $9.76 and a 12 month high of $13.06. The business's 50 day simple moving average is $11.08 and its 200 day simple moving average is $11.58. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of -67.87 and a beta of 1.25.

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Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results 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%. As a group, sell-side analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, COO Eric Venker sold 100,000 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CIO Mayukh Sukhatme sold 185,946 shares of the company's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $12.00, for a total transaction of $2,231,352.00. Following the completion of the sale, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,038,564. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,388,170 shares of company stock valued at $27,612,299 in the last 90 days. 7.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ROIV has been the subject of several research reports. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Thursday, January 30th. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $18.08.

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.