Norges Bank Takes Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Norges Bank purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,433,014 shares of the company’s stock, valued at approximately $52,443,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROIV. GAMMA Investing LLC increased its stake in Roivant Sciences by 57.0% during the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock worth $42,000 after buying an additional 1,288 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Roivant Sciences by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock worth $84,000 after purchasing an additional 1,507 shares in the last quarter. Quarry LP raised its stake 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 purchasing an additional 2,500 shares during the last quarter. Blue Trust Inc. lifted its holdings in Roivant Sciences by 550.1% in the 4th quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock valued at $91,000 after purchasing an additional 6,667 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Roivant Sciences during the 4th quarter worth $121,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Trading Down 5.5 %

Shares of ROIV stock opened at $9.46 on Friday. Roivant Sciences Ltd. has a twelve month low of $9.42 and a twelve month high of $13.06. The company’s 50-day moving average price is $10.62 and its 200-day moving average price is $11.33. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of -63.06 and a beta of 1.26.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. As a group, equities research analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insider Buying and Selling

In other Roivant Sciences news, CAO Rakhi Kumar sold 227,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.43, for a total value of $2,372,825.00. Following the transaction, the chief accounting officer now owns 163,264 shares of the company’s stock, valued at $1,702,843.52. This represents a 58.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated 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 approximately $8,260,276.32. This represents a 12.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,395,541 shares of company stock worth $15,028,538. Company insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ROIV shares. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Tuesday, February 11th. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th.

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.