Principal Financial Group Inc. Reduces Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Principal Financial Group Inc. cut its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 12.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,009,758 shares of the company’s stock after selling 145,614 shares during the period. Principal Financial Group Inc.’s holdings in Roivant Sciences were worth $11,653,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. TOMS Capital Investment Management LP acquired a new stake in Roivant Sciences during the third quarter worth about $46,333,000. Rubric Capital Management LP lifted its holdings in Roivant Sciences by 15.0% in the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after purchasing an additional 3,000,000 shares during the period. Troluce Capital Advisors LLC acquired a new position in shares of Roivant Sciences during the second quarter valued at approximately $31,182,000. FMR LLC lifted its stake in shares of Roivant Sciences by 5.6% in the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock valued at $567,134,000 after purchasing an additional 2,593,910 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Roivant Sciences by 23.2% during the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock worth $89,400,000 after buying an additional 1,460,205 shares during the last quarter. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $11.80 on Monday. The firm’s 50 day moving average price is $11.91 and its two-hundred day moving average price is $11.54. Roivant Sciences Ltd. has a 52-week low of $9.69 and a 52-week high of $13.06. The stock has a market cap of $8.59 billion, a PE ratio of 2.09 and a beta of 1.25.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total value of $1,132,000.00. Following the sale, the chief operating officer now directly owns 606,525 shares in the company, valued at approximately $6,865,863. This trade represents a 14.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CIO Mayukh Sukhatme sold 689,495 shares of Roivant Sciences stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.01, for a total value of $8,280,834.95. Following the transaction, the executive now owns 18,836,547 shares in the company, valued at approximately $226,226,929.47. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,588,025 shares of company stock worth $18,929,824 in the last three months. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America lifted their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.93.

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.