Roivant Sciences Ltd. $ROIV Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 20.3% during the third quarter, HoldingsChannel reports. The fund owned 4,173,123 shares of the company’s stock after buying an additional 704,783 shares during the period. Pictet Asset Management Holding SA’s holdings in Roivant Sciences were worth $152,597,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AlphaCentric Advisors LLC increased its stake in Roivant Sciences by 4.5% during the third quarter. AlphaCentric Advisors LLC now owns 50,535 shares of the company’s stock worth $1,848,000 after acquiring an additional 2,180 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Roivant Sciences by 73.1% in the third quarter. Commonwealth Equity Services LLC now owns 17,515 shares of the company’s stock valued at $641,000 after purchasing an additional 7,398 shares during the period. Compass Financial Management LLC acquired a new position in shares of Roivant Sciences in the 3rd quarter valued at $37,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Roivant Sciences by 20.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 112,252 shares of the company’s stock valued at $4,105,000 after purchasing an additional 19,100 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Roivant Sciences in the 3rd quarter valued at $35,624,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 24th. Jefferies Financial Group boosted their price objective on shares of Roivant Sciences from $42.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Sanford C. Bernstein upgraded shares of Roivant Sciences to a “strong-buy” rating in a report on Wednesday, July 29th. UBS Group set a $55.00 target price on shares of Roivant Sciences in a research report on Wednesday, September 9th. Finally, Guggenheim increased their target price on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Roivant Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

Insider Activity at Roivant Sciences

In other news, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the completion of the sale, the chief executive officer owned 1,399,154 shares in the company, valued at approximately $49,124,296.94. The trade was a 12.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 284,707 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the completion of the transaction, the insider owned 18,630,739 shares of the company’s stock, valued at approximately $675,364,288.75. The trade was a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,022,688 shares of company stock worth $73,438,636 over the last quarter. 8.80% of the stock is currently owned by insiders.

Roivant Sciences Stock Performance

Shares of Roivant Sciences stock opened at $38.88 on Monday. Roivant Sciences Ltd. has a one year low of $19.79 and a one year high of $42.50. The company has a market cap of $28.08 billion, a PE ratio of -73.36 and a beta of 1.23. The business has a 50-day simple moving average of $36.69 and a 200-day simple moving average of $31.80.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. On average, sell-side analysts predict that Roivant Sciences Ltd. will post -2.00 earnings per share for the current fiscal year.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.