DnB Asset Management AS Trims Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

DnB Asset Management AS reduced its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,677 shares of the company’s stock after selling 7,531 shares during the quarter. DnB Asset Management AS’s holdings in Roivant Sciences were worth $529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROIV. GAMMA Investing LLC raised its stake 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 buying an additional 1,288 shares during the period. PNC Financial Services Group Inc. increased its holdings in Roivant Sciences by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock worth $84,000 after acquiring an additional 1,507 shares in the last quarter. Quarry LP lifted its holdings in Roivant Sciences by 50.0% during the third quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $87,000 after purchasing an additional 2,500 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Roivant Sciences by 550.1% in the fourth quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock worth $91,000 after purchasing an additional 6,667 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in shares of Roivant Sciences in the fourth quarter worth $121,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $10.08 on Thursday. The company has a market cap of $7.19 billion, a P/E ratio of -67.20 and a beta of 1.26. Roivant Sciences Ltd. has a 52-week low of $9.76 and a 52-week high of $13.06. The firm’s fifty day moving average is $10.67 and its two-hundred day moving average is $11.36.

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

Insider Activity

In related news, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the transaction, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eric Venker sold 434,478 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $12,197,277.80. The trade was 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 1,395,541 shares of company stock worth $15,028,538. 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.