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

Corebridge Financial Inc. reduced its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 485,952 shares of the company’s stock after selling 29,931 shares during the quarter. Corebridge Financial Inc.’s holdings in Roivant Sciences were worth $5,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. United Services Automobile Association grew its holdings in Roivant Sciences by 6.1% during the fourth quarter. United Services Automobile Association now owns 27,494 shares of the company’s stock valued at $325,000 after purchasing an additional 1,588 shares during the period. Vanguard Group Inc. grew its holdings in shares of Roivant Sciences by 5.8% in the 4th 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. LPL Financial LLC grew its holdings in shares of Roivant Sciences by 11.3% in the 4th quarter. LPL Financial LLC now owns 73,308 shares of the company’s stock valued at $867,000 after buying an additional 7,452 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Roivant Sciences in the 4th quarter valued at $918,000. Finally, Teacher Retirement System of Texas raised its stake in Roivant Sciences by 18.2% during the 4th quarter. Teacher Retirement System of Texas now owns 109,531 shares of the company’s stock worth $1,296,000 after buying an additional 16,891 shares during the period. 64.76% of the stock is owned by institutional investors.

Insider Activity

In other Roivant Sciences news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average price of $20.00 per share, with a total value 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. This trade represents a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the sale, the chief accounting officer now owns 163,264 shares in the company, valued at $1,702,843.52. The trade was a 58.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,573,245 shares of company stock worth $17,079,242 over the last ninety days. Insiders own 7.90% of the company’s stock.

Roivant Sciences Price Performance

ROIV opened at $10.38 on Friday. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -69.20 and a beta of 1.26. The business’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $11.41. Roivant Sciences Ltd. has a 1 year low of $9.96 and a 1 year high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) 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 fiscal year.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald upgraded 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.10.

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.