Te Ahumairangi Investment Management Ltd Trims Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Te Ahumairangi Investment Management Ltd cut its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 21.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,011 shares of the company's stock after selling 43,601 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Roivant Sciences were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ROIV. Nordea Investment Management AB increased its holdings in shares of Roivant Sciences by 22.5% during the 4th quarter. Nordea Investment Management AB now owns 282,834 shares of the company's stock valued at $3,306,000 after purchasing an additional 52,031 shares in the last quarter. Barclays PLC grew its position in Roivant Sciences by 19.7% during the third quarter. Barclays PLC now owns 459,521 shares of the company's stock valued at $5,302,000 after buying an additional 75,609 shares during the period. Retirement Systems of Alabama increased its holdings in Roivant Sciences by 26.9% in the third quarter. Retirement Systems of Alabama now owns 530,022 shares of the company's stock valued at $6,116,000 after buying an additional 112,286 shares in the last quarter. Elevate Capital Advisors LLC acquired a new position in shares of Roivant Sciences in the fourth quarter worth about $2,116,000. Finally, State Street Corp raised its position in shares of Roivant Sciences by 6.1% in the third quarter. State Street Corp now owns 19,561,249 shares of the company's stock worth $225,737,000 after acquiring an additional 1,118,561 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the sale, the chief operating officer now owns 732,294 shares of the company's stock, valued at $8,260,276.32. The trade was a 12.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the company's stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the acquisition, the director now directly owns 96,650,341 shares of the company's stock, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 1,395,541 shares of company stock worth $15,028,538. 7.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ROIV shares. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Tuesday, February 11th.

Roivant Sciences Stock Down 5.5 %

Shares of NASDAQ ROIV traded down $0.55 during trading on Friday, hitting $9.46. The company had a trading volume of 10,135,922 shares, compared to its average volume of 5,313,953. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of -63.06 and a beta of 1.25. The stock has a fifty day simple moving average of $10.62 and a two-hundred day simple moving average of $11.33. Roivant Sciences Ltd. has a fifty-two week low of $9.42 and a fifty-two week high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current 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.