Norges Bank Purchases New Position in Roivant Sciences Ltd. $ROIV

Norges Bank purchased a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,195,859 shares of the company’s stock, valued at approximately $112,750,000.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Roivant Sciences by 226.0% during the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after purchasing an additional 1,148 shares during the period. SBI Securities Co. Ltd. boosted its position in Roivant Sciences by 1,740.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock worth $27,000 after purchasing an additional 1,166 shares during the period. Allworth Financial LP boosted its position in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after purchasing an additional 583 shares during the period. Bessemer Group Inc. boosted its position in Roivant Sciences by 41.5% during the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after purchasing an additional 543 shares during the period. Finally, Clearstead Advisors LLC boosted its position in Roivant Sciences by 141.6% during the fourth quarter. Clearstead Advisors LLC now owns 2,907 shares of the company’s stock worth $63,000 after purchasing an additional 1,704 shares during the period. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Up 2.9%

Shares of ROIV stock opened at $29.53 on Friday. Roivant Sciences Ltd. has a 12 month low of $10.70 and a 12 month high of $32.79. The firm has a market cap of $21.24 billion, a PE ratio of -49.22 and a beta of 1.13. The stock has a 50 day moving average of $28.73 and a 200-day moving average of $25.65.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.57. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.The company had revenue of $2.52 million during the quarter, compared to analyst estimates of $3.41 million. During the same period in the previous year, the company earned ($0.29) earnings per share. As a group, equities analysts predict that Roivant Sciences Ltd. will post -1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ROIV. Leerink Partners set a $42.00 target price on Roivant Sciences in a research report on Thursday, May 21st. Sanford C. Bernstein began coverage on Roivant Sciences in a research report on Friday, March 20th. They set an “outperform” rating and a $35.00 target price for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $34.00 target price on shares of Roivant Sciences in a research report on Thursday, May 21st. Finally, TD Cowen upped their target price on Roivant Sciences from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.59.

Insiders Place Their Bets

In other news, CAO Jennifer Humes sold 13,538 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total transaction of $384,073.06. Following the completion of the transaction, the chief accounting officer directly owned 84,191 shares in the company, valued at $2,388,498.67. The trade was a 13.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Gline sold 289,774 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total value of $8,449,809.84. Following the transaction, the chief executive officer owned 16,736,116 shares of the company’s stock, valued at approximately $488,025,142.56. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 945,173 shares of company stock valued at $27,654,456 in the last three months. 10.80% of the stock is owned by corporate insiders.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.