Norges Bank Invests $52.44 Million in Roivant Sciences Ltd. (NASDAQ:ROIV)

Norges Bank acquired a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,433,014 shares of the company’s stock, valued at approximately $52,443,000. Norges Bank owned about 0.61% of Roivant Sciences at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in Roivant Sciences by 10.8% in the third quarter. The Manufacturers Life Insurance Company now owns 356,600 shares of the company’s stock valued at $4,115,000 after buying an additional 34,641 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Roivant Sciences in the 3rd quarter valued at approximately $557,000. Integrated Wealth Concepts LLC raised its position in shares of Roivant Sciences by 3.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 246,537 shares of the company’s stock valued at $2,845,000 after purchasing an additional 9,164 shares during the last quarter. Parallax Volatility Advisers L.P. acquired a new stake in Roivant Sciences in the 3rd quarter worth approximately $347,000. Finally, Quarry LP grew its position in Roivant Sciences by 50.0% during the 3rd quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock opened at $9.46 on Friday. The stock has a market cap of $6.75 billion, a PE ratio of -63.06 and a beta of 1.26. The firm has a fifty day moving average price of $10.62 and a 200 day moving average price of $11.33. Roivant Sciences Ltd. has a 1 year low of $9.42 and a 1 year high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data 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 return on equity of 14.05% and a negative net margin of 119.54%. As a group, equities analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ROIV. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th.

Insiders Place Their Bets

In other news, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the transaction, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Venker sold 218,041 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.42, for a total value of $2,271,987.22. Following the sale, the chief operating officer now owns 896,869 shares in the company, valued at $9,345,374.98. This trade represents a 19.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,395,541 shares of company stock worth $15,028,538. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Company 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.