Assenagon Asset Management S.A. Acquires 1,286,464 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• Assenagon Asset Management increased its Roivant Sciences stake by 18.2%, acquiring 1.29 million shares to bring its holdings to 8.36 million shares, worth approximately $296 million. Institutional investors collectively own 64.76% of the company.
• Insider activity was negative, with executives and directors selling approximately 2.06 million shares worth $69.6 million over the past 90 days, including CEO Eric Venker’s $6.63 million sale under a pre-arranged trading plan.
• Analysts remain generally bullish: Roivant has a consensus “Moderate Buy” rating and a $33.59 price target, while shares recently traded at $35.12, near their 52-week high of $37.00.

Assenagon Asset Management S.A. boosted its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 18.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,362,952 shares of the company's stock after buying an additional 1,286,464 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.16% of Roivant Sciences worth $295,965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Stanley lifted its position in shares of Roivant Sciences by 31.7% in the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company's stock valued at $1,266,402,000 after buying an additional 14,036,696 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Roivant Sciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company's stock worth $912,681,000 after acquiring an additional 3,254,113 shares during the last quarter. Rubric Capital Management LP raised its stake in Roivant Sciences by 14.7% in the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after acquiring an additional 2,603,260 shares during the period. State Street Corp raised its stake in Roivant Sciences by 4.8% in the 2nd quarter. State Street Corp now owns 19,773,480 shares of the company's stock valued at $222,847,000 after acquiring an additional 911,827 shares during the period. Finally, UBS Group AG lifted its holdings in Roivant Sciences by 570.0% during the 4th quarter. UBS Group AG now owns 18,390,792 shares of the company's stock valued at $399,080,000 after purchasing an additional 15,645,836 shares during the last quarter. Institutional investors own 64.76% of the company's stock.

Insiders Place Their Bets

In related news, Director Melissa B. Epperly sold 17,750 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $34.38, for a total value of $610,245.00. Following the transaction, the director directly owned 16,474 shares in the company, valued at approximately $566,376.12. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the transaction, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $53,489,169.08. This represents a 11.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,055,913 shares of company stock worth $69,639,633 in the last 90 days. Company insiders own 8.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America reaffirmed a "neutral" rating on shares of Roivant Sciences in a research report on Friday, July 31st. Leerink Partners set a $42.00 price objective on shares of Roivant Sciences in a research report on Thursday, May 21st. Citigroup raised their target price on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Piper Sandler reaffirmed an "overweight" rating on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, TD Cowen reiterated a "buy" rating on shares of Roivant Sciences in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Roivant Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.59.

Roivant Sciences Trading Up 1.5%

NASDAQ:ROIV opened at $35.12 on Friday. The stock has a market cap of $25.26 billion, a P/E ratio of -58.53 and a beta of 1.12. The stock has a 50 day simple moving average of $33.00 and a 200 day simple moving average of $29.41. Roivant Sciences Ltd. has a 1-year low of $10.90 and a 1-year high of $37.00.

About Roivant Sciences

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source