Roivant Sciences Ltd. (NASDAQ:ROIV) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 927,470 shares of the company’s stock after selling 175,418 shares during the period. Pictet Asset Management Holding SA’s holdings in Roivant Sciences were worth $10,972,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Roivant Sciences by 22.5% during the fourth quarter. Nordea Investment Management AB now owns 282,834 shares of the company’s stock worth $3,306,000 after buying an additional 52,031 shares during the last quarter. Barclays PLC raised its holdings in shares of Roivant Sciences by 19.7% during the 3rd quarter. Barclays PLC now owns 459,521 shares of the company’s stock worth $5,302,000 after acquiring an additional 75,609 shares during the period. Retirement Systems of Alabama boosted its position in shares of Roivant Sciences by 26.9% during the 3rd quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock valued at $6,116,000 after acquiring an additional 112,286 shares during the last quarter. Elevate Capital Advisors LLC purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at about $2,116,000. Finally, State Street Corp increased its position in 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 purchasing an additional 1,118,561 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 218,041 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.42, for a total value of $2,271,987.22. Following the completion of the transaction, the chief operating officer now owns 896,869 shares in the company, valued at approximately $9,345,374.98. This represents a 19.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were bought at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the transaction, the director now directly owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 1,395,541 shares of company stock valued at $15,028,538. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $10.08 on Thursday. The company has a 50 day moving average price of $10.67 and a 200 day moving average price of $11.36. Roivant Sciences Ltd. has a fifty-two week low of $9.76 and a fifty-two week high of $13.06. The stock has a market capitalization of $7.19 billion, a P/E ratio of -67.20 and a beta of 1.26.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ROIV. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.10.

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.