Roivant Sciences Ltd. (NASDAQ:ROIV) Holdings Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,952 shares of the company’s stock after selling 29,931 shares during the period. Corebridge Financial Inc. owned approximately 0.07% of Roivant Sciences worth $5,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Roivant Sciences by 57.0% in the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after purchasing an additional 1,288 shares during the period. PNC Financial Services Group Inc. grew its position 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 valued at $84,000 after purchasing an additional 1,507 shares in the last quarter. Quarry LP increased its stake in Roivant Sciences by 50.0% in the 3rd quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $87,000 after buying an additional 2,500 shares during the period. Blue Trust Inc. lifted its position in Roivant Sciences by 550.1% in the 4th quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock worth $91,000 after buying an additional 6,667 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Roivant Sciences during the 4th quarter valued at $121,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Trading Down 1.0 %

ROIV stock opened at $10.38 on Friday. The firm has a market cap of $7.41 billion, a PE ratio of -69.20 and a beta of 1.26. Roivant Sciences Ltd. has a 1 year low of $9.96 and a 1 year high of $13.06. The company has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $11.41.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share 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%. As a group, analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ROIV shares. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Roivant Sciences has an average rating of “Buy” and an average target price of $17.10.

Insider Buying and Selling

In related news, CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the completion of the sale, the chief accounting officer now directly owns 163,264 shares in the company, valued at $1,702,843.52. This trade represents a 58.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric Venker sold 434,478 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.82, for a total value of $4,701,051.96. Following the sale, the chief operating officer now directly owns 1,127,290 shares of the company’s stock, valued at $12,197,277.80. This represents a 27.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,573,245 shares of company stock worth $17,079,242. 7.90% of the stock is currently owned by insiders.

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.