Roivant Sciences Ltd. (NASDAQ:ROIV) Holdings Trimmed by Prosight Management LP

Prosight Management LP trimmed its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 12.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,500,000 shares of the company’s stock after selling 221,512 shares during the period. Roivant Sciences accounts for 4.9% of Prosight Management LP’s investment portfolio, making the stock its 9th biggest holding. Prosight Management LP owned 0.21% of Roivant Sciences worth $17,745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROIV. Russell Investments Group Ltd. lifted its stake in shares of Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock valued at $28,000 after purchasing an additional 1,948 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Roivant Sciences in the 4th quarter valued at $39,000. PNC Financial Services Group Inc. lifted its stake in shares of Roivant Sciences by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after purchasing an additional 1,507 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Roivant Sciences by 84.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock valued at $89,000 after purchasing an additional 3,426 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Roivant Sciences by 550.1% in the 4th quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock valued at $91,000 after purchasing an additional 6,667 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Monday, April 21st. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th.

Insiders Place Their Bets

In other news, COO Eric Venker sold 315,522 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $11.06, for a total transaction of $3,489,673.32. Following the completion of the sale, the chief operating officer now owns 959,457 shares of the company’s stock, valued at $10,611,594.42. This represents a 24.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the sale, the insider now directly owns 39,799,611 shares of the company’s stock, valued at $456,501,538.17. This represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,223,959 shares of company stock worth $13,420,035. Company insiders own 7.90% of the company’s stock.

Roivant Sciences Price Performance

ROIV opened at $10.67 on Thursday. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06. The company’s 50 day simple moving average is $10.50 and its 200-day simple moving average is $11.09. The stock has a market capitalization of $7.61 billion, a P/E ratio of -71.13 and a beta of 1.23.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.20) EPS for the quarter, beating 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%. As a group, analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

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.