Bank of New York Mellon Corp Has $63 Million Stock Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Bank of New York Mellon cut its Roivant Sciences stake by 37.3% in the fourth quarter, but still held 2.9 million shares worth about $63 million.
• Roivant’s recent earnings beat expectations, reporting $0.28 EPS versus an expected loss, though revenue came in below estimates and the company still posted negative profitability metrics.
• Analysts remain largely positive on the stock, with 10 Buy ratings and a consensus rating of Moderate Buy; several firms also raised price targets to around $41-$42.

Bank of New York Mellon Corp decreased its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,903,129 shares of the company's stock after selling 1,727,819 shares during the period. Bank of New York Mellon Corp owned 0.42% of Roivant Sciences worth $62,998,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc boosted its stake in shares of Roivant Sciences by 94.7% during the 3rd quarter. TD Asset Management Inc now owns 316,200 shares of the company's stock worth $4,784,000 after acquiring an additional 153,800 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Roivant Sciences during the 3rd quarter worth about $877,000. HighVista Strategies LLC lifted its position in shares of Roivant Sciences by 61.4% during the 3rd quarter. HighVista Strategies LLC now owns 98,858 shares of the company's stock worth $1,496,000 after purchasing an additional 37,590 shares during the last quarter. Neo Ivy Capital Management lifted its position in shares of Roivant Sciences by 229.6% during the 3rd quarter. Neo Ivy Capital Management now owns 237,392 shares of the company's stock worth $3,592,000 after purchasing an additional 165,362 shares during the last quarter. Finally, Capricorn Fund Managers Ltd lifted its position in shares of Roivant Sciences by 124.4% during the 4th quarter. Capricorn Fund Managers Ltd now owns 445,500 shares of the company's stock worth $9,667,000 after purchasing an additional 247,000 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TD Cowen boosted their price objective on Roivant Sciences from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Jefferies Financial Group restated a "buy" rating on shares of Roivant Sciences in a research note on Tuesday, March 3rd. Leerink Partners set a $42.00 price target on Roivant Sciences in a research note on Thursday, May 21st. Weiss Ratings lowered Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. Finally, Citigroup boosted their price target on Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.59.

Roivant Sciences Stock Up 2.0%

ROIV stock opened at $29.05 on Wednesday. The business's fifty day moving average is $28.83 and its 200-day moving average is $25.83. The company has a market cap of $20.89 billion, a P/E ratio of -48.42 and a beta of 1.13. Roivant Sciences Ltd. has a twelve month low of $10.70 and a twelve month high of $32.79.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.57. The company had revenue of $2.52 million for the quarter, compared to the consensus estimate of $3.41 million. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.During the same quarter in the prior year, the business posted ($0.29) EPS. Research analysts anticipate that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Melissa B. Epperly sold 41,861 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $28.68, for a total transaction of $1,200,573.48. Following the sale, the director owned 15,804 shares of the company's stock, valued at approximately $453,258.72. This trade represents a 72.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric Venker sold 200,000 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total value of $6,054,000.00. Following the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at $48,827,417.01. The trade was a 11.03% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 945,173 shares of company stock worth $27,654,456. 10.80% of the stock is owned by corporate insiders.

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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