QVT Financial LP trimmed its stake in Roivant Sciences Ltd. (NASDAQ:ROIV – Free Report) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 26,387,021 shares of the company’s stock after selling 2,994,614 shares during the period. Roivant Sciences makes up about 48.9% of QVT Financial LP’s portfolio, making the stock its largest position. QVT Financial LP’s holdings in Roivant Sciences were worth $572,598,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its holdings in shares of Roivant Sciences by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 87,152 shares of the company’s stock valued at $1,891,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can boosted its holdings in Roivant Sciences by 1.3% during the fourth quarter. Bank of Montreal Can now owns 40,012 shares of the company’s stock worth $868,000 after purchasing an additional 516 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Roivant Sciences by 41.5% during the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after purchasing an additional 543 shares during the last quarter. Allworth Financial LP boosted its holdings in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after purchasing an additional 583 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Roivant Sciences by 15.8% in the fourth quarter. Fifth Third Bancorp now owns 4,310 shares of the company’s stock worth $94,000 after acquiring an additional 588 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $28.24, for a total value of $5,648,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,647,546 shares in the company, valued at approximately $46,526,699.04. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Gline sold 289,774 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total transaction of $8,449,809.84. Following the completion of the transaction, the chief executive officer owned 16,736,116 shares of the company’s stock, valued at $488,025,142.56. This trade represents a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 903,312 shares of company stock worth $26,453,883. 10.80% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
View Our Latest Research Report on Roivant Sciences
Roivant Sciences Price Performance
NASDAQ:ROIV opened at $30.04 on Monday. The company has a fifty day moving average of $28.95 and a 200 day moving average of $26.02. Roivant Sciences Ltd. has a 52 week low of $10.70 and a 52 week high of $32.79. The firm has a market capitalization of $21.61 billion, a P/E ratio of -50.07 and a beta of 1.13.
Roivant Sciences (NASDAQ:ROIV – Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.57. Roivant Sciences had a negative net margin of 3,629.19% and a negative return on equity of 20.54%. The company had revenue of $2.52 million during the quarter, compared to analyst estimates of $3.41 million. During the same period in the prior year, the business posted ($0.29) EPS. As a group, analysts anticipate that Roivant Sciences Ltd. will post -1.83 EPS for the current year.
Roivant Sciences Profile
Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.
The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.
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