KLP Kapitalforvaltning AS Buys Shares of 77,600 Roivant Sciences Ltd. (NASDAQ:ROIV)

KLP Kapitalforvaltning AS purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) in the fourth quarter, Holdings Channel.com reports. The firm purchased 77,600 shares of the company’s stock, valued at approximately $918,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROIV. Nordea Investment Management AB increased its holdings in Roivant Sciences by 22.5% in the fourth quarter. Nordea Investment Management AB now owns 282,834 shares of the company’s stock worth $3,306,000 after buying an additional 52,031 shares during the last quarter. TOMS Capital Investment Management LP acquired a new position in shares of Roivant Sciences during the 3rd quarter worth $46,333,000. Barclays PLC raised its holdings in shares of Roivant Sciences by 19.7% during the 3rd 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 in the last quarter. Retirement Systems of Alabama raised its holdings 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 valued at $6,116,000 after purchasing an additional 112,286 shares in the last quarter. Finally, Elevate Capital Advisors LLC acquired a new stake in shares of Roivant Sciences in the 4th quarter valued at $2,116,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROIV has been the topic of several analyst reports. HC Wainwright reissued 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 raised Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Roivant Sciences presently has an average rating of “Buy” and a consensus target price of $17.10.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $10.09 on Tuesday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of -67.26 and a beta of 1.26. The firm has a fifty day moving average price of $10.72 and a two-hundred day moving average price of $11.38. Roivant Sciences Ltd. has a fifty-two week low of $9.92 and a fifty-two week high of $13.06.

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

Insider Activity

In related news, Director Sciences Ltd. Roivant purchased 16,845,010 shares of Roivant Sciences stock in a transaction on Monday, January 13th. The stock was purchased at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the acquisition, the director now directly owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $11.28, for a total transaction of $1,128,000.00. Following the transaction, the chief operating officer now owns 732,294 shares in the company, valued at approximately $8,260,276.32. The trade was a 12.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,395,541 shares of company stock valued at $15,028,538. 7.90% of the stock is owned by company insiders.

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.