Skandinaviska Enskilda Banken AB publ Sells 40,987 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Skandinaviska Enskilda Banken AB publ decreased its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 35.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,489 shares of the company's stock after selling 40,987 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Roivant Sciences were worth $751,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Roivant Sciences in the fourth quarter valued at $995,000. HighTower Advisors LLC acquired a new position in Roivant Sciences in the fourth quarter valued at $121,000. Commonwealth Equity Services LLC raised its holdings in shares of Roivant Sciences by 24.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,588 shares of the company's stock valued at $232,000 after purchasing an additional 3,813 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Roivant Sciences during the fourth quarter valued at about $918,000. Finally, LPL Financial LLC raised its holdings in shares of Roivant Sciences by 11.3% during the fourth quarter. LPL Financial LLC now owns 73,308 shares of the company's stock valued at $867,000 after purchasing an additional 7,452 shares during the period. Institutional investors own 64.76% of the company's stock.

Analysts Set New Price Targets

ROIV has been the topic of several research reports. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective on the stock in a report on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th.

Insider Transactions at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction that occurred on 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 directly owned 37,284,108 shares of the company's stock, valued at $427,275,877.68. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $11.52, for a total transaction of $1,152,000.00. Following the transaction, the chief executive officer directly owned 1,462,223 shares of the company's stock, valued at $16,844,808.96. This represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,464,462 shares of company stock valued at $39,228,856 over the last ninety days. 7.90% of the stock is currently owned by insiders.

Roivant Sciences Trading Down 0.4%

Shares of ROIV traded down $0.05 on Friday, reaching $11.31. The company's stock had a trading volume of 2,910,651 shares, compared to its average volume of 5,871,215. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The stock has a market capitalization of $7.69 billion, a PE ratio of -45.24 and a beta of 1.15. The firm has a fifty day moving average of $11.25 and a 200-day moving average of $10.85.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the prior year, the company earned ($0.23) EPS. As a group, equities analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

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.