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

DnB Asset Management AS lowered its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ROIV. GAMMA Investing LLC lifted its position in shares of Roivant Sciences by 57.0% during the fourth 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 last quarter. PNC Financial Services Group Inc. lifted its holdings in Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after buying an additional 1,507 shares in the last quarter. Quarry LP boosted its position 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. grew its stake 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 acquiring an additional 6,667 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Roivant Sciences during the fourth quarter worth approximately $121,000. Institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

ROIV has been the subject of a number of research reports. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.10.

Roivant Sciences Stock Up 2.3 %

Shares of ROIV stock opened at $10.08 on Thursday. The company’s 50 day moving average is $10.67 and its 200 day moving average is $11.36. The firm has a market cap of $7.19 billion, a price-to-earnings 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.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings data 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%. Analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Insider Activity

In other Roivant Sciences news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Eric Venker sold 434,478 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 1,127,290 shares in the company, valued at approximately $12,197,277.80. This trade 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 have sold 1,395,541 shares of company stock worth $15,028,538. Corporate insiders own 7.90% of the company’s stock.

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.