Skandinaviska Enskilda Banken AB publ Trims Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 42.1% in the fourth quarter, Holdings Channel reports. The fund owned 115,476 shares of the company’s stock after selling 83,811 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Roivant Sciences were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ROIV. TOMS Capital Investment Management LP acquired a new stake in shares of Roivant Sciences during the third quarter worth $46,333,000. FMR LLC lifted its stake in shares of Roivant Sciences by 5.6% in the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after acquiring an additional 2,593,910 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Roivant Sciences by 23.2% in the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after acquiring an additional 1,460,205 shares in the last quarter. State Street Corp increased its stake in shares of Roivant Sciences by 6.1% during 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Roivant Sciences by 49.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,307,178 shares of the company’s stock worth $26,625,000 after purchasing an additional 762,953 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ROIV. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Tuesday, February 11th. Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Roivant Sciences presently has an average rating of “Buy” and an average price target of $18.08.

Roivant Sciences Price Performance

ROIV opened at $10.85 on Tuesday. Roivant Sciences Ltd. has a 1-year low of $9.76 and a 1-year high of $13.06. The stock has a market cap of $7.74 billion, a P/E ratio of -72.33 and a beta of 1.26. The stock’s 50 day simple moving average is $10.80 and its 200 day simple moving average is $11.49.

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 return on equity of 14.05% and a negative net margin of 119.54%. Research analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Roivant Sciences

In related news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the stock in a transaction on Monday, January 13th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the acquisition, the director now owns 96,650,341 shares in the company, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Rakhi Kumar sold 227,500 shares of the stock in a transaction on 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 sale, the chief accounting officer now directly owns 163,264 shares in the company, valued at approximately $1,702,843.52. The trade was a 58.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,388,170 shares of company stock worth $27,612,299. 7.90% of the stock is owned by corporate insiders.

About Roivant Sciences

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.