Bank of America Corp DE raised its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,163,821 shares of the company's stock after acquiring an additional 235,493 shares during the quarter. Bank of America Corp DE owned about 0.44% of Roivant Sciences worth $87,638,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. increased its stake in shares of Roivant Sciences by 1,740.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company's stock worth $27,000 after purchasing an additional 1,166 shares during the period. Allworth Financial LP raised its position in shares of Roivant Sciences by 48.1% in the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company's stock valued at $27,000 after buying an additional 583 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Roivant Sciences in the 4th quarter valued at approximately $47,000. Parallel Advisors LLC lifted its holdings in shares of Roivant Sciences by 33.7% during the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company's stock worth $57,000 after acquiring an additional 520 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Roivant Sciences by 7,614.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company's stock worth $59,000 after acquiring an additional 2,665 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Roivant Sciences
In other news, Director Melissa B. Epperly sold 17,750 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $34.38, for a total transaction of $610,245.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total value of $6,632,000.00. Following the completion of the transaction, the chief executive officer owned 1,613,063 shares of the company's stock, valued at $53,489,169.08. The trade was 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 sold a total of 2,055,913 shares of company stock valued at $69,639,633 in the last quarter. Insiders own 8.80% of the company's stock.
Key Stories Impacting Roivant Sciences
Here are the key news stories impacting Roivant Sciences this week:
- Positive Sentiment: Guggenheim raised its price target to $42 from $36 and assigned a “Buy” rating. The revision implies meaningful upside and provides a clear near-term bullish catalyst for Roivant Sciences (ROIV). Benzinga analyst upgrade
- Positive Sentiment: Roivant said it expects to launch brepocitinib for dermatomyositis by the end of September, a milestone that could improve confidence in the company’s commercialization strategy. It also plans to target cutaneous sarcoidosis, with Phase 3 data expected in 2028. Brepocitinib launch and pipeline update
- Positive Sentiment: Roivant’s subsidiary Immunovant reported that IMVT-1402 development remains on schedule across several autoimmune indications, including Graves’ disease and myasthenia gravis. Its cash balance is expected to fund operations through a potential Graves’ disease launch, reducing near-term financing concerns. Immunovant corporate update
Roivant Sciences Trading Up 3.5%
ROIV opened at $36.34 on Friday. The company has a market cap of $26.14 billion, a P/E ratio of -68.57 and a beta of 1.12. The company's 50 day moving average is $33.13 and its 200-day moving average is $29.46. Roivant Sciences Ltd. has a 1-year low of $10.90 and a 1-year high of $37.00.
Wall Street Analyst Weigh In
ROIV has been the topic of a number of recent analyst reports. Leerink Partners set a $42.00 price objective on shares of Roivant Sciences in a research note on Thursday, May 21st. Bank of America restated a "neutral" rating on shares of Roivant Sciences in a research note on Friday, July 31st. Sanford C. Bernstein upgraded Roivant Sciences to a "strong-buy" rating in a research note on Wednesday, July 29th. Piper Sandler reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Finally, HC Wainwright boosted their price target on Roivant Sciences from $34.00 to $41.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.77.
View Our Latest Stock Analysis on ROIV
Roivant Sciences Company Profile
(
Free Report)
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.
Further Reading
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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.
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