Principal Financial Group Inc. Has $487,000 Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

Principal Financial Group Inc. grew its stake in Roivant Sciences Ltd. (NASDAQ:ROIVFree Report) by 45.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,705 shares of the company’s stock after purchasing an additional 13,106 shares during the quarter. Principal Financial Group Inc.’s holdings in Roivant Sciences were worth $487,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Roivant Sciences in the third quarter valued at approximately $44,000. Royal Bank of Canada lifted its holdings in shares of Roivant Sciences by 2,333.5% in the second quarter. Royal Bank of Canada now owns 4,210 shares of the company’s stock valued at $43,000 after purchasing an additional 4,037 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Roivant Sciences by 1,803.6% in the first quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock valued at $28,000 after purchasing an additional 5,447 shares in the last quarter. Ausdal Financial Partners Inc. bought a new position in shares of Roivant Sciences in the second quarter valued at approximately $101,000. Finally, Sandia Investment Management LP bought a new stake in Roivant Sciences during the first quarter worth $74,000. Institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

ROIV has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Roivant Sciences in a report on Tuesday, December 12th. They set a “buy” rating and a $14.00 price target on the stock. Piper Sandler initiated coverage on Roivant Sciences in a report on Friday, January 5th. They set an “overweight” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Roivant Sciences from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, November 14th. Bank of America lifted their price target on Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Finally, Guggenheim dropped their price target on Roivant Sciences from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.56.

Read Our Latest Analysis on Roivant Sciences

Insider Activity

In other news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of Roivant Sciences stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total value of $33,150,000.00. Following the completion of the transaction, the insider now directly owns 51,929,426 shares in the company, valued at $573,820,157.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of Roivant Sciences stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total value of $33,150,000.00. Following the completion of the transaction, the insider now directly owns 51,929,426 shares in the company, valued at $573,820,157.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Eric Venker sold 96,950 shares of Roivant Sciences stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.92, for a total value of $1,058,694.00. Following the completion of the transaction, the chief operating officer now owns 532,207 shares of the company’s stock, valued at $5,811,700.44. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $10.81 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.84 and a quick ratio of 5.84. The business has a fifty day simple moving average of $10.64 and a two-hundred day simple moving average of $10.49. Roivant Sciences Ltd. has a 1 year low of $6.59 and a 1 year high of $13.24. The company has a market capitalization of $8.69 billion, a P/E ratio of -8.19 and a beta of 1.34.

Roivant Sciences (NASDAQ:ROIVGet Free Report) last released its earnings results on Monday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.02. The business had revenue of $37.10 million during the quarter, compared to the consensus estimate of $26.68 million. Roivant Sciences had a negative return on equity of 73.04% and a negative net margin of 951.77%. On average, analysts expect that Roivant Sciences Ltd. will post -1.77 earnings per share for the current year.

Roivant Sciences Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Roivant Sciences (NASDAQ:ROIV)

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