Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,121 shares of the company’s stock after acquiring an additional 13,834 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Roivant Sciences were worth $1,102,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in shares of Roivant Sciences by 22.5% during the 4th quarter. Nordea Investment Management AB now owns 282,834 shares of the company’s stock worth $3,306,000 after acquiring an additional 52,031 shares in the last quarter. TOMS Capital Investment Management LP purchased a new stake in Roivant Sciences during the third quarter worth $46,333,000. Barclays PLC grew its holdings in Roivant Sciences by 19.7% in the third quarter. Barclays PLC now owns 459,521 shares of the company’s stock valued at $5,302,000 after purchasing an additional 75,609 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Roivant Sciences by 13.3% in the third quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company’s stock valued at $45,147,000 after buying an additional 458,601 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Roivant Sciences by 26.9% during the 3rd quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock worth $6,116,000 after buying an additional 112,286 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROIV. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Tuesday, February 11th. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $18.08.

Insider Buying and Selling at Roivant Sciences

In other news, CIO Mayukh Sukhatme sold 185,946 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $12.00, for a total value of $2,231,352.00. Following the transaction, the executive now owns 18,836,547 shares of the company’s stock, valued at $226,038,564. The trade was a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the completion of the transaction, the chief accounting officer now owns 163,264 shares in the company, valued at $1,702,843.52. The trade was a 58.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,975,586 shares of company stock valued at $22,640,661 in the last quarter. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Up 2.1 %

Shares of ROIV opened at $10.94 on Thursday. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -72.93 and a beta of 1.26. The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $11.48. Roivant Sciences Ltd. has a 52-week low of $9.80 and a 52-week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.20) EPS for the quarter, topping 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%. On average, equities analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal 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.