First Trust Advisors LP Has $28.93 Million Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

First Trust Advisors LP reduced its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,445,396 shares of the company's stock after selling 561,219 shares during the period. First Trust Advisors LP owned 0.34% of Roivant Sciences worth $28,929,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ROIV. FMR LLC raised its stake in Roivant Sciences by 0.3% in the fourth quarter. FMR LLC now owns 49,301,583 shares of the company's stock valued at $583,238,000 after buying an additional 156,527 shares during the period. Vanguard Group Inc. raised its stake in Roivant Sciences by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock valued at $521,553,000 after buying an additional 2,404,232 shares during the period. Invesco Ltd. increased its stake in shares of Roivant Sciences by 49.7% during the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock worth $112,563,000 after purchasing an additional 3,159,603 shares during the period. Geode Capital Management LLC increased its stake in shares of Roivant Sciences by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 7,771,831 shares of the company's stock worth $91,968,000 after purchasing an additional 26,727 shares during the period. Finally, Norges Bank bought a new position in shares of Roivant Sciences during the fourth quarter worth approximately $52,443,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ROIV. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Monday, April 21st. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th.

Insider Buying and Selling at Roivant Sciences

In related news, COO Eric Venker sold 218,041 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.42, for a total transaction of $2,271,987.22. Following the sale, the chief operating officer now owns 896,869 shares of the company's stock, valued at $9,345,374.98. This trade represents a 19.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Rakhi Kumar sold 227,500 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total value of $2,372,825.00. Following the sale, the chief accounting officer now directly owns 163,264 shares in the company, valued at approximately $1,702,843.52. This trade represents a 58.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,395,541 shares of company stock valued at $14,922,538. 7.90% of the stock is currently owned by corporate insiders.

Roivant Sciences Price Performance

Roivant Sciences stock traded up $0.18 during mid-day trading on Monday, reaching $11.19. 8,301,459 shares of the company were exchanged, compared to its average volume of 5,473,407. The company has a fifty day simple moving average of $10.34 and a 200-day simple moving average of $11.14. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $13.06. The firm has a market cap of $7.98 billion, a PE ratio of -74.60 and a beta of 1.25.

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

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.