California Public Employees Retirement System Invests $19.15 Million in Roivant Sciences Ltd. $ROIV

Key Points

• CalPERS opened a new position in Roivant Sciences, buying 691,463 shares worth about $19.15 million in the first quarter.
• Several other institutional investors also added to or initiated stakes in ROIV, and institutional ownership now stands at 64.76% of the company.
• Insiders have been selling shares recently, including CEO Eric Venker and Director Daniel Allen Gold, even as analysts remain mostly bullish with an average “Moderate Buy” rating and a $33.59 price target.

California Public Employees Retirement System bought a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 691,463 shares of the company's stock, valued at approximately $19,154,000. California Public Employees Retirement System owned 0.10% of Roivant Sciences at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. SBI Securities Co. Ltd. grew its position in Roivant Sciences by 1,740.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company's stock valued at $27,000 after acquiring an additional 1,166 shares during the period. Allworth Financial LP lifted its holdings in shares of Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company's stock valued at $27,000 after acquiring an additional 583 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Roivant Sciences during the fourth quarter valued at $47,000. Bessemer Group Inc. boosted its stake in shares of Roivant Sciences by 21.8% in the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company's stock valued at $69,000 after purchasing an additional 441 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Roivant Sciences by 7,614.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company's stock worth $59,000 after purchasing an additional 2,665 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Insiders Place Their Bets

In other news, CEO Eric Venker sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.28, for a total transaction of $436,766.40. Following the sale, the director directly owned 13,689,166 shares in the company, valued at $482,953,776.48. This trade represents a 0.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,855,913 shares of company stock valued at $62,649,633 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $35.10 on Friday. The business has a fifty day moving average of $32.12 and a 200-day moving average of $28.58. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00. The firm has a market cap of $25.25 billion, a PE ratio of -58.50 and a beta of 1.11.

Analysts Set New Price Targets

ROIV has been the subject of a number of recent analyst reports. Guggenheim increased their target price on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. HC Wainwright restated a "buy" rating and issued a $34.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. Citigroup upped their price objective 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 lifted their target price 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. Ten research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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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