Principal Financial Group Inc. Lowers Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Principal Financial Group Inc. decreased its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 968,639 shares of the company’s stock after selling 15,880 shares during the period. Principal Financial Group Inc. owned 0.14% of Roivant Sciences worth $9,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Penn Davis Mcfarland Inc. increased its stake in shares of Roivant Sciences by 3.5% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,707,232 shares of the company’s stock worth $17,226,000 after acquiring an additional 58,206 shares during the period. Fifth Third Bancorp increased its stake in shares of Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after acquiring an additional 1,905 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Roivant Sciences in the first quarter worth $570,000. GAMMA Investing LLC increased its stake in shares of Roivant Sciences by 83.0% in the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company’s stock worth $66,000 after acquiring an additional 2,945 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after acquiring an additional 2,195 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Up 2.4%

ROIV opened at $11.63 on Tuesday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -46.52 and a beta of 1.15. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $13.06. The firm’s fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $10.85.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The company had revenue of $7.57 million for the quarter, compared to analysts’ expectations of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same period in the previous year, the business earned ($0.23) earnings per share. On average, research analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insider Activity

In other news, COO Eric Venker sold 566,278 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total value of $6,353,639.16. Following the transaction, the chief operating officer directly owned 1,462,223 shares of the company’s stock, valued at approximately $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the transaction, the insider directly owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,464,462 shares of company stock worth $39,098,856. Insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ROIV shares. The Goldman Sachs Group upgraded shares of Roivant Sciences to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Thursday, July 10th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th.

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.