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

Skandinaviska Enskilda Banken AB publ trimmed its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 35.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in Roivant Sciences by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock valued at $40,362,000 after acquiring an additional 560,641 shares during the period. GAMMA Investing LLC grew its position in shares of Roivant Sciences by 83.0% during the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company’s stock worth $66,000 after purchasing an additional 2,945 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after purchasing an additional 1,948 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Roivant Sciences during the fourth quarter worth about $995,000. Finally, UMB Bank n.a. grew its holdings in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock valued at $42,000 after buying an additional 2,195 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ROIV shares. The Goldman Sachs Group raised Roivant Sciences to a “strong-buy” rating and set a $19.00 price objective 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 research note on Wednesday, June 18th.

Roivant Sciences Stock Up 0.6%

Shares of NASDAQ ROIV opened at $11.42 on Wednesday. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The business has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $10.85. The firm has a market cap of $7.76 billion, a PE ratio of -45.68 and a beta of 1.15.

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

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 566,278 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the sale, the chief operating officer owned 1,462,223 shares in the company, valued at approximately $16,406,142.06. The trade was a 27.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $11.46, for a total value of $6,612,500.22. Following the sale, 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. Over the last 90 days, insiders have sold 3,464,462 shares of company stock worth $39,228,856. 7.90% of the stock is owned by company insiders.

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.