Bank of New York Mellon Corp Decreases Stock Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Bank of New York Mellon cut its Roivant Sciences stake by 5.8% in the first quarter, selling 167,305 shares and ending with 2,735,824 shares valued at about $75.8 million.
• Institutional interest remains strong, with hedge funds and other investors owning 64.76% of Roivant; several firms, including UBS, Morgan Stanley, Goldman Sachs, Assenagon, and Norges Bank, either added to or initiated positions recently.
• Analysts remain generally bullish on ROIV, with 10 Buy ratings, one Hold, and one Sell; TD Cowen raised its price target to $41 while the consensus target sits at $33.59.

Bank of New York Mellon Corp lowered its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,735,824 shares of the company's stock after selling 167,305 shares during the period. Bank of New York Mellon Corp owned 0.38% of Roivant Sciences worth $75,782,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. 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 worth $399,080,000 after buying an additional 15,645,836 shares during the last quarter. Morgan Stanley increased its holdings in shares of Roivant Sciences by 31.7% in the 4th quarter. Morgan Stanley now owns 58,359,553 shares of the company's stock valued at $1,266,402,000 after acquiring an additional 14,036,696 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Roivant Sciences by 365.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company's stock worth $238,323,000 after acquiring an additional 8,621,567 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Roivant Sciences by 11,507.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,937,112 shares of the company's stock worth $150,535,000 after acquiring an additional 6,877,348 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Roivant Sciences during the 4th quarter worth about $112,750,000. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Trading Up 2.7%

Shares of ROIV opened at $34.96 on Wednesday. The stock's 50 day moving average is $31.90 and its two-hundred day moving average is $28.39. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00. The firm has a market capitalization of $25.15 billion, a PE ratio of -58.27 and a beta of 1.11.

Analyst Ratings Changes

Several equities analysts have commented on ROIV shares. TD Cowen increased their price target on shares of Roivant Sciences from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Weiss Ratings downgraded shares of Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. HC Wainwright restated a "buy" rating and issued a $34.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Leerink Partners set a $42.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Roivant Sciences in a research report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.59.

Insider Activity at Roivant Sciences

In related news, Director Melissa B. Epperly sold 17,750 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $34.38, for a total transaction of $610,245.00. Following the transaction, the director owned 16,474 shares of the company's stock, valued at $566,376.12. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 12,380 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.28, for a total value of $436,766.40. Following the completion of the transaction, the director owned 13,689,166 shares of the company's stock, valued at $482,953,776.48. The trade was a 0.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,855,913 shares of company stock worth $62,649,633 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

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.

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