Amalgamated Bank Trims Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Amalgamated Bank reduced its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,643 shares of the company’s stock after selling 11,678 shares during the quarter. Amalgamated Bank’s holdings in Roivant Sciences were worth $1,944,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ROIV. Norges Bank purchased a new position in Roivant Sciences during the fourth quarter valued at approximately $52,443,000. Invesco Ltd. raised its position in Roivant Sciences by 49.7% during the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company’s stock valued at $112,563,000 after acquiring an additional 3,159,603 shares in the last quarter. Vanguard Group Inc. raised its position in Roivant Sciences by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock valued at $521,553,000 after acquiring an additional 2,404,232 shares in the last quarter. TOMS Capital Investment Management LP raised its position in Roivant Sciences by 46.6% during the fourth quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company’s stock valued at $69,620,000 after acquiring an additional 1,870,000 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Roivant Sciences by 104.4% during the fourth quarter. Marshall Wace LLP now owns 2,946,954 shares of the company’s stock valued at $34,862,000 after acquiring an additional 1,505,062 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following the sale, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.45, for a total value of $1,145,000.00. Following the completion of the sale, the chief operating officer owned 1,462,223 shares in the company, valued at $16,742,453.35. This represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,464,462 shares of company stock worth $39,098,856 in the last 90 days. Company insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $10.85 on Monday. The stock’s fifty day moving average is $11.14 and its two-hundred day moving average is $10.87. The firm has a market capitalization of $7.37 billion, a P/E ratio of -43.38 and a beta of 1.15. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The business had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $62.17 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. As a group, sell-side analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th.

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.