Te Ahumairangi Investment Management Ltd Sells 43,601 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Te Ahumairangi Investment Management Ltd cut its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 21.6% in the fourth quarter, HoldingsChannel reports. The fund owned 158,011 shares of the company’s stock after selling 43,601 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Roivant Sciences were worth $1,869,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Roivant Sciences by 57.0% in the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after purchasing an additional 1,288 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock worth $84,000 after buying an additional 1,507 shares in the last quarter. Quarry LP boosted its position in Roivant Sciences by 50.0% in the 3rd quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $87,000 after buying an additional 2,500 shares during the last quarter. Blue Trust Inc. increased 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 buying an additional 6,667 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of Roivant Sciences during the fourth quarter worth $121,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Trading Down 2.4 %

NASDAQ ROIV opened at $9.85 on Wednesday. Roivant Sciences Ltd. has a 12 month low of $9.76 and a 12 month high of $13.06. The company has a market capitalization of $7.03 billion, a PE ratio of -65.66 and a beta of 1.26. The stock has a 50-day simple moving average of $10.69 and a 200 day simple moving average of $11.37.

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

Insiders Place Their Bets

In other Roivant Sciences news, COO Eric Venker sold 434,478 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.82, for a total value of $4,701,051.96. Following the completion of the sale, the chief operating officer now directly owns 1,127,290 shares in the company, valued at $12,197,277.80. This represents a 27.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.43, for a total value of $2,372,825.00. Following the transaction, the chief accounting officer now owns 163,264 shares in the company, valued at $1,702,843.52. This trade represents a 58.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,395,541 shares of company stock worth $15,028,538. Company insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ROIV. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.10.

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.