Principal Financial Group Inc. Sells 18,402 Shares of Roivant Sciences Ltd. $ROIV

Principal Financial Group Inc. lowered its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 1.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 953,933 shares of the company’s stock after selling 18,402 shares during the period. Principal Financial Group Inc.’s holdings in Roivant Sciences were worth $14,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after buying an additional 920 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Roivant Sciences by 1.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 86,652 shares of the company’s stock valued at $1,311,000 after purchasing an additional 1,019 shares during the last quarter. M&T Bank Corp boosted its position in Roivant Sciences by 10.2% in the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock valued at $144,000 after buying an additional 1,181 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Roivant Sciences by 4.8% in the third quarter. Federated Hermes Inc. now owns 29,069 shares of the company’s stock valued at $440,000 after acquiring an additional 1,320 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Roivant Sciences by 16.6% during the 3rd quarter. GAMMA Investing LLC now owns 9,302 shares of the company’s stock worth $141,000 after buying an additional 1,324 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $27.35 on Wednesday. The stock has a 50 day moving average price of $22.36 and a 200 day moving average price of $18.08. The stock has a market capitalization of $19.02 billion, a PE ratio of -23.38 and a beta of 1.22. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $27.94.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Roivant Sciences from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday. The Goldman Sachs Group upped their target price on shares of Roivant Sciences from $24.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a research note on Saturday. Jefferies Financial Group reissued a “buy” rating and issued a $30.00 target price on shares of Roivant Sciences in a research report on Monday. Finally, HC Wainwright boosted their target price on Roivant Sciences from $26.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Roivant Sciences currently has an average rating of “Moderate Buy” and an average price target of $28.69.

Insider Activity at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 353,745 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $22.05, for a total value of $7,800,077.25. Following the completion of the sale, the insider owned 34,132,463 shares of the company’s stock, valued at approximately $752,620,809.15. This represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Allen Gold sold 777,332 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $23.07, for a total transaction of $17,933,049.24. Following the completion of the transaction, the director directly owned 16,353,113 shares of the company’s stock, valued at $377,266,316.91. This represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,132,392 shares of company stock worth $262,349,645. Insiders own 10.80% of the company’s stock.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.