Arizona State Retirement System Sells 2,882 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Arizona State Retirement System lowered its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,354 shares of the company’s stock after selling 2,882 shares during the period. Arizona State Retirement System’s holdings in Roivant Sciences were worth $1,053,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Roivant Sciences by 0.3% in the 4th quarter. FMR LLC now owns 49,301,583 shares of the company’s stock valued at $583,238,000 after buying an additional 156,527 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock valued at $521,553,000 after buying an additional 2,404,232 shares in the last quarter. Patient Square Capital LP raised its position in shares of Roivant Sciences by 2.1% in the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company’s stock valued at $147,638,000 after buying an additional 251,535 shares in the last quarter. Two Seas Capital LP raised its position in shares of Roivant Sciences by 4.6% in the 4th quarter. Two Seas Capital LP now owns 10,167,807 shares of the company’s stock valued at $120,285,000 after buying an additional 442,914 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Roivant Sciences by 49.7% in the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company’s stock valued at $112,563,000 after buying an additional 3,159,603 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Trading Down 1.8%

Shares of Roivant Sciences stock opened at $11.44 on Monday. The firm has a market capitalization of $7.78 billion, a PE ratio of -45.76 and a beta of 1.15. The firm’s 50 day moving average is $11.16 and its 200 day moving average is $10.84. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results 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). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The company had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. During the same period last year, the firm posted ($0.23) earnings per share. As a group, research analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the sale, the insider directly owned 37,284,108 shares of the company’s stock, valued at $427,275,877.68. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $11.45, for a total transaction of $1,145,000.00. Following the completion of the transaction, the chief operating officer owned 1,462,223 shares in the company, valued at $16,742,453.35. This trade represents a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,364,462 shares of company stock worth $38,076,856 over the last three months. Insiders own 7.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.