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

Principal Financial Group Inc. lowered its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,009,758 shares of the company’s stock after selling 145,614 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Roivant Sciences worth $11,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its position in Roivant Sciences by 0.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock valued at $3,457,000 after acquiring an additional 1,142 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Roivant Sciences by 23.2% in the 2nd quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock valued at $89,000 after purchasing an additional 1,603 shares during the period. US Bancorp DE lifted its holdings in shares of Roivant Sciences by 146.5% in the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock valued at $38,000 after purchasing an additional 1,948 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Roivant Sciences during the second quarter worth about $34,000. Finally, DNB Asset Management AS grew its holdings in shares of Roivant Sciences by 6.4% during the second quarter. DNB Asset Management AS now owns 56,022 shares of the company’s stock worth $592,000 after buying an additional 3,386 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $23,382,600.03. Following the completion of the sale, the chief executive officer now directly owns 17,870,543 shares of the company’s stock, valued at $210,693,701.97. This trade represents a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the transaction, the chief accounting officer now directly owns 209,322 shares in the company, valued at $2,488,838.58. The trade was a 54.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,577,309 shares of company stock valued at $42,151,184. 7.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on ROIV shares. 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 increased 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 analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.93.

Roivant Sciences Trading Down 3.8 %

NASDAQ ROIV opened at $11.20 on Monday. Roivant Sciences Ltd. has a 12 month low of $8.56 and a 12 month high of $13.06. The stock has a 50 day moving average of $11.75 and a 200-day moving average of $11.32. The company has a market cap of $8.28 billion, a PE ratio of 1.98 and a beta of 1.24.

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.