KLP Kapitalforvaltning AS Has $720,000 Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

KLP Kapitalforvaltning AS lessened its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,400 shares of the company’s stock after selling 6,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Roivant Sciences were worth $720,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Roivant Sciences by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock worth $40,362,000 after purchasing an additional 560,641 shares in the last quarter. GF Fund Management CO. LTD. increased its stake in shares of Roivant Sciences by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 18,641 shares of the company’s stock worth $188,000 after purchasing an additional 3,356 shares during the last quarter. Penn Davis Mcfarland Inc. increased its stake in shares of Roivant Sciences by 3.5% during the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company’s stock worth $17,226,000 after purchasing an additional 58,206 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Roivant Sciences during the 1st quarter worth approximately $570,000. 64.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Roivant Sciences to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Thursday, July 10th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th.

Insider Buying and Selling at Roivant Sciences

In other news, CEO Eric Venker sold 100,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 1,462,223 shares in the company, valued at approximately $16,844,808.96. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction on Friday, June 20th. The stock was 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. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,464,462 shares of company stock worth $39,228,856. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Performance

Roivant Sciences stock opened at $11.42 on Wednesday. The firm’s fifty day moving average price is $11.24 and its 200-day moving average price is $10.85. The stock has a market cap of $7.76 billion, a P/E ratio of -45.68 and a beta of 1.15. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The company had revenue of $7.57 million for the quarter, compared to analysts’ expectations of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same quarter last year, the business posted ($0.23) EPS. On average, analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

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.