Assenagon Asset Management S.A. Has $196.02 Million Position in Roivant Sciences Ltd. $ROIV

Key Points

• Assenagon Asset Management increased its Roivant Sciences stake by 2.0% in the first quarter, bringing its holdings to 7,076,488 shares valued at about $196.0 million.
• Roivant Sciences reported quarterly earnings of $0.28 per share, beating estimates, though revenue came in below expectations at $2.52 million. Analysts now expect the company to post -1.83 EPS for the current fiscal year.
• Insider selling has been notable, including CEO Eric Venker selling 200,000 shares in May; over the last three months, insiders have sold 703,312 shares worth about $20.8 million.

Assenagon Asset Management S.A. boosted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,076,488 shares of the company's stock after acquiring an additional 139,376 shares during the period. Assenagon Asset Management S.A. owned 0.99% of Roivant Sciences worth $196,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in shares of Roivant Sciences by 15.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company's stock valued at $24,553,000 after purchasing an additional 324,764 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Roivant Sciences by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company's stock worth $24,678,000 after acquiring an additional 34,341 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Roivant Sciences by 1.9% during the second quarter. American Century Companies Inc. now owns 89,625 shares of the company's stock worth $1,010,000 after acquiring an additional 1,689 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Roivant Sciences by 149.9% during the second quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company's stock worth $129,000 after acquiring an additional 6,879 shares during the period. Finally, M&T Bank Corp grew its position in shares of Roivant Sciences by 10.2% in the second quarter. M&T Bank Corp now owns 12,802 shares of the company's stock valued at $144,000 after purchasing an additional 1,181 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Stock Up 5.6%

ROIV opened at $34.01 on Thursday. The stock has a market capitalization of $24.46 billion, a price-to-earnings ratio of -56.68 and a beta of 1.13. Roivant Sciences Ltd. has a twelve month low of $10.70 and a twelve month high of $34.51. The company has a 50-day simple moving average of $29.47 and a 200 day simple moving average of $26.63.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results on Wednesday, May 20th. The company reported $0.28 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.52 million for the quarter, compared to analyst estimates of $3.41 million. During the same period last year, the firm earned ($0.29) EPS. Sell-side analysts anticipate that Roivant Sciences Ltd. will post -1.83 EPS for the current fiscal year.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total transaction of $6,054,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at $48,827,417.01. This represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jennifer Humes sold 13,538 shares of the firm's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $28.37, for a total value of $384,073.06. Following the completion of the sale, the chief accounting officer directly owned 84,191 shares in the company, valued at approximately $2,388,498.67. This represents a 13.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 703,312 shares of company stock valued at $20,805,883 over the last three months. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a "buy" rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of Roivant Sciences in a research report on Thursday, May 21st. Sanford C. Bernstein started coverage on shares of Roivant Sciences in a research note on Friday, March 20th. They issued an "outperform" rating and a $35.00 price target on the stock. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. Finally, TD Cowen lifted their price objective on shares of Roivant Sciences from $38.00 to $41.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.59.

Roivant Sciences Company 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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