Roivant Sciences Ltd. $ROIV Holdings Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,173,123 shares of the company’s stock after buying an additional 704,783 shares during the period. Pictet Asset Management Holding SA owned approximately 0.58% of Roivant Sciences worth $152,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ROIV. AlphaCentric Advisors LLC boosted its holdings in shares of Roivant Sciences by 4.5% in the 3rd quarter. AlphaCentric Advisors LLC now owns 50,535 shares of the company’s stock valued at $1,848,000 after acquiring an additional 2,180 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Roivant Sciences by 73.1% in the third quarter. Commonwealth Equity Services LLC now owns 17,515 shares of the company’s stock worth $641,000 after acquiring an additional 7,398 shares during the period. Compass Financial Management LLC acquired a new stake in shares of Roivant Sciences in the third quarter worth $37,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Roivant Sciences by 20.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 112,252 shares of the company’s stock worth $4,105,000 after purchasing an additional 19,100 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Roivant Sciences during the third quarter worth $35,624,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $38.88 on Monday. The stock has a market capitalization of $28.08 billion, a PE ratio of -73.36 and a beta of 1.23. Roivant Sciences Ltd. has a fifty-two week low of $19.79 and a fifty-two week high of $42.50. The company has a fifty day moving average of $36.69 and a two-hundred day moving average of $31.80.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to analysts’ expectations of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. Research analysts forecast that Roivant Sciences Ltd. will post -2.00 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Roivant Sciences from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. HC Wainwright lifted their price objective on Roivant Sciences from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. Finally, Citigroup boosted their price objective on Roivant Sciences from $46.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.55.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00. Following the completion of the sale, the chief executive officer directly owned 1,399,154 shares in the company, valued at $49,124,296.94. This represents a 12.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 284,707 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the completion of the sale, the insider directly owned 18,630,739 shares of the company’s stock, valued at $675,364,288.75. This represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,022,688 shares of company stock worth $73,438,636 over the last 90 days. 8.80% of the stock is currently owned by company insiders.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.