27,348 Shares in Roivant Sciences Ltd. $ROIV Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. invested approximately $276,000 in Roivant Sciences Ltd. by acquiring 27,348 shares in the first quarter.
• Insiders sold a total of 3,190,503 shares worth about $36.2 million in the last 90 days, with COO Eric Venker selling 566,278 shares.
• Goldman Sachs upgraded Roivant Sciences to a "strong-buy" rating with a target price of $19.00, while the consensus target price across analysts is $16.50.

Candriam S.C.A. acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,348 shares of the company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in shares of Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after purchasing an additional 1,108 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Roivant Sciences by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company's stock valued at $173,000 after buying an additional 1,434 shares in the last quarter. Fifth Third Bancorp raised its stake in Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after purchasing an additional 1,905 shares during the period. Russell Investments Group Ltd. raised its stake in Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after purchasing an additional 1,948 shares during the period. Finally, UMB Bank n.a. raised its stake in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after purchasing an additional 2,195 shares during the period. 64.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, June 18th. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective for the company in a report on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Roivant Sciences currently has an average rating of "Buy" and a consensus target price of $16.50.

Roivant Sciences Stock Down 0.4%

ROIV traded down $0.05 during midday trading on Thursday, reaching $11.94. 3,127,309 shares of the company's stock were exchanged, compared to its average volume of 5,734,432. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of -17.06 and a beta of 1.15. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06. The business has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $10.94.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%.During the same quarter in the prior year, the business earned ($0.23) EPS. As a group, research analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Venker sold 566,278 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the transaction, the chief operating officer owned 1,462,223 shares of the company's stock, valued at approximately $16,406,142.06. This represents a 27.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,190,503 shares of company stock valued at $36,163,546. Corporate insiders own 10.80% of the company's stock.

Roivant Sciences Profile

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.