Corebridge Financial Inc. Sells 29,931 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Corebridge Financial Inc. cut its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,952 shares of the company's stock after selling 29,931 shares during the period. Corebridge Financial Inc. owned about 0.07% of Roivant Sciences worth $5,749,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Roivant Sciences by 57.0% during the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company's stock worth $42,000 after purchasing an additional 1,288 shares during the period. PNC Financial Services Group Inc. increased 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 worth $84,000 after buying an additional 1,507 shares during the last quarter. Quarry LP boosted its stake in 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 acquiring an additional 2,500 shares during the last quarter. Blue Trust Inc. lifted its stake in Roivant Sciences by 550.1% in the fourth quarter. Blue Trust Inc. now owns 7,879 shares of the company's stock valued at $91,000 after purchasing an additional 6,667 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Roivant Sciences during the fourth quarter valued at $121,000. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROIV. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $17.10.

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Roivant Sciences Stock Performance

Roivant Sciences stock traded down $0.24 during midday trading on Thursday, reaching $9.85. 1,785,458 shares of the stock were exchanged, compared to its average volume of 5,347,051. The company's fifty day moving average is $10.67 and its 200-day moving average is $11.36. Roivant Sciences Ltd. has a 52 week low of $9.76 and a 52 week high of $13.06. The firm has a market cap of $7.02 billion, a PE ratio of -65.63 and a beta of 1.26.

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

Insider Activity

In related news, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction that occurred on 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 $8,260,276.32. This trade represents a 12.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the business's stock in a transaction on Monday, January 13th. The stock was bought at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the purchase, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. 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 insiders.

Roivant Sciences Company 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.