PNC Financial Services Group Inc. Has $103,000 Stock Position in Roivant Sciences Ltd. $ROIV

PNC Financial Services Group Inc. raised its position in Roivant Sciences Ltd. (NASDAQ:ROIV) by 44.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,248 shares of the company’s stock after acquiring an additional 3,169 shares during the period. PNC Financial Services Group Inc.’s holdings in Roivant Sciences were worth $103,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ROIV. LPL Financial LLC raised its holdings in Roivant Sciences by 11.3% in the 4th quarter. LPL Financial LLC now owns 73,308 shares of the company’s stock valued at $867,000 after acquiring an additional 7,452 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Roivant Sciences by 84.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock worth $89,000 after buying an additional 3,426 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Roivant Sciences in the 4th quarter worth approximately $318,000. Russell Investments Group Ltd. raised its holdings in shares of Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after buying an additional 1,948 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Roivant Sciences in the 4th quarter worth approximately $995,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROIV. The Goldman Sachs Group raised Roivant Sciences to a “strong-buy” rating and set a $19.00 target price for the company in a report on Thursday, July 10th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.50.

Roivant Sciences Price Performance

NASDAQ ROIV opened at $11.76 on Wednesday. The firm has a market cap of $7.99 billion, a PE ratio of -16.80 and a beta of 1.15. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06. The stock’s 50 day simple moving average is $11.40 and its 200 day simple moving average is $10.90.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly 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). The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%.During the same quarter last year, the company earned ($0.23) earnings per share. As a group, equities analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 37,284,108 shares in the company, valued at $427,275,877.68. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Venker sold 100,000 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $11.52, for a total value of $1,152,000.00. Following the completion of the transaction, the chief executive officer owned 1,462,223 shares in the company, valued at $16,844,808.96. The trade was a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,090,503 shares of company stock worth $34,991,546. 10.80% of the stock is owned by corporate insiders.

Roivant Sciences 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.