Principal Financial Group Inc. Trims Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Principal Financial Group Inc. cut its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,009,758 shares of the company's stock after selling 145,614 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Roivant Sciences worth $11,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Roivant Sciences during the second quarter valued at about $34,000. Point72 Hong Kong Ltd purchased a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $36,000. US Bancorp DE increased its holdings in Roivant Sciences by 146.5% in the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company's stock valued at $38,000 after purchasing an additional 1,948 shares during the last quarter. Quarry LP purchased a new stake in Roivant Sciences in the second quarter valued at approximately $53,000. Finally, Acadian Asset Management LLC acquired a new position in Roivant Sciences during the first quarter worth $72,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ROIV shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a report on Thursday, September 19th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, November 13th. Finally, Bank of America increased their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a "neutral" rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Roivant Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.93.

Insider Buying and Selling at Roivant Sciences

In related news, Director Keith S. Manchester sold 368,052 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the transaction, the director now directly owns 1,412,126 shares of the company's stock, valued at $16,408,904.12. This represents a 20.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eric Venker sold 100,000 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $11.65, for a total transaction of $1,165,000.00. Following the completion of the transaction, the chief operating officer now owns 617,470 shares of the company's stock, valued at approximately $7,193,525.50. The trade was a 13.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,577,309 shares of company stock valued at $42,151,184. Insiders own 7.90% of the company's stock.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock traded down $0.04 on Monday, reaching $11.16. 4,196,802 shares of the company were exchanged, compared to its average volume of 5,844,882. The stock's 50 day moving average price is $11.75 and its 200-day moving average price is $11.32. Roivant Sciences Ltd. has a 1-year low of $8.56 and a 1-year high of $13.06. The company has a market cap of $8.25 billion, a P/E ratio of 1.98 and a beta of 1.24.

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.