77,600 Shares in Roivant Sciences Ltd. (NASDAQ:ROIV) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 77,600 shares of the company’s stock, valued at approximately $918,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. 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 valued at $225,737,000 after acquiring an additional 1,118,561 shares during the period. Geode Capital Management LLC increased its position in shares of Roivant Sciences by 23.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after purchasing an additional 1,460,205 shares during the period. TOMS Capital Investment Management LP bought a new stake in shares of Roivant Sciences in the 3rd quarter worth $46,333,000. Bank of New York Mellon Corp lifted its holdings in shares of Roivant Sciences by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,439,540 shares of the company’s stock valued at $40,690,000 after buying an additional 510,398 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Roivant Sciences by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,812,502 shares of the company’s stock valued at $33,272,000 after buying an additional 45,090 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Roivant Sciences news, Director Sciences Ltd. Roivant bought 16,845,010 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 96,650,341 shares of the company’s stock, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Eric Venker sold 434,478 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.82, for a total transaction of $4,701,051.96. Following the sale, the chief operating officer now owns 1,127,290 shares of the company’s stock, valued at approximately $12,197,277.80. This represents a 27.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,395,541 shares of company stock worth $15,028,538 over the last quarter. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Down 2.8 %

NASDAQ:ROIV opened at $10.09 on Tuesday. The stock has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $11.38. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -67.26 and a beta of 1.26. Roivant Sciences Ltd. has a 1-year low of $9.92 and a 1-year high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, topping 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%. Equities analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

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.