Roivant Sciences Ltd. $ROIV Position Reduced by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Roivant Sciences Ltd. by 4.3% to approximately $33.31 million, owning 3,301,299 shares as of its latest SEC filing.
• Institutional investors control about 64.76% of Roivant Sciences' shares, with major players like Patient Square Capital and Invesco increasing their holdings recently.
• Roivant Sciences missed earnings expectations with a reported EPS of ($0.31), compared to the consensus estimate of ($0.16), underscoring ongoing financial challenges.

Northern Trust Corp cut its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,301,299 shares of the company's stock after selling 146,783 shares during the period. Northern Trust Corp owned approximately 0.46% of Roivant Sciences worth $33,310,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Roivant Sciences by 84.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $89,000 after buying an additional 3,426 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Roivant Sciences during the fourth quarter worth about $318,000. Raymond James Financial Inc. purchased a new position in Roivant Sciences in the 4th quarter valued at $995,000. BNP Paribas Financial Markets acquired a new position in shares of Roivant Sciences during the fourth quarter worth about $5,537,000. Finally, Bellevue Group AG purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at approximately $284,000. Institutional investors and hedge funds own 64.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ROIV shares. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. Citigroup began coverage on Roivant Sciences in a research note on Tuesday. They set a "buy" rating and a $16.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Roivant Sciences currently has a consensus rating of "Buy" and an average price target of $16.38.

Roivant Sciences Stock Performance

Shares of Roivant Sciences stock traded up $0.14 during trading hours on Wednesday, reaching $12.53. The company's stock had a trading volume of 5,212,950 shares, compared to its average volume of 5,741,534. The stock has a market cap of $8.55 billion, a P/E ratio of -17.84 and a beta of 1.15. The company's 50 day simple moving average is $11.51 and its 200 day simple moving average is $10.98. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06.

Insider Buying and Selling at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 577,007 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00. Following the sale, the chief executive officer directly owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,643,073 shares of company stock valued at $18,800,748. Corporate insiders own 10.80% 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.