Principal Financial Group Inc. Sells 145,614 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Principal Financial Group Inc. lessened its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,009,758 shares of the company’s stock after selling 145,614 shares during the period. Principal Financial Group Inc.’s holdings in Roivant Sciences were worth $11,653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Roivant Sciences during the 2nd quarter worth approximately $34,000. Point72 Hong Kong Ltd bought a new position in Roivant Sciences during the 2nd quarter worth $36,000. US Bancorp DE increased its position in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after buying an additional 1,948 shares during the period. Quarry LP acquired a new stake in shares of Roivant Sciences during the second quarter worth $53,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Roivant Sciences in the first quarter valued at about $72,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Insider Buying and Selling at Roivant Sciences

In other news, Director Keith S. Manchester sold 368,052 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the transaction, the director now owns 1,412,126 shares of the company’s stock, valued at approximately $16,408,904.12. This represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the sale, the chief accounting officer now directly owns 209,322 shares in the company, valued at $2,488,838.58. This trade represents a 54.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,577,309 shares of company stock worth $42,151,184 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Trading Down 3.8 %

Shares of Roivant Sciences stock opened at $11.20 on Monday. The company has a market cap of $8.28 billion, a PE ratio of 1.98 and a beta of 1.24. The company has a 50 day moving average of $11.75 and a 200-day moving average of $11.32. Roivant Sciences Ltd. has a 1-year low of $8.56 and a 1-year high of $13.06.

Analysts Set New Price Targets

ROIV has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, November 13th. Bank of America raised their target price on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.93.

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.