Candriam S.C.A. Lowers Position in Roivant Sciences Ltd. $ROIV

Key Points

• Candriam S.C.A. cut its Roivant Sciences stake by 19.6% in Q1, selling 488,450 shares and ending with about 2.0 million shares valued at $55.5 million.
• Analyst sentiment remains positive, with multiple firms raising price targets and 10 analysts rating ROIV a Buy; the consensus view is a “Moderate Buy” with an average target of $33.59.
• Insider selling has been notable: CEO Eric Venker and Director Daniel Allen Gold sold shares recently, and insiders have sold 2.35 million shares over the last 90 days.

Candriam S.C.A. decreased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,001,976 shares of the company's stock after selling 488,450 shares during the quarter. Candriam S.C.A. owned about 0.28% of Roivant Sciences worth $55,455,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UBS Group AG lifted its stake in Roivant Sciences by 570.0% in the 4th quarter. UBS Group AG now owns 18,390,792 shares of the company's stock worth $399,080,000 after purchasing an additional 15,645,836 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Roivant Sciences by 31.7% during the 4th quarter. Morgan Stanley now owns 58,359,553 shares of the company's stock valued at $1,266,402,000 after purchasing an additional 14,036,696 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Roivant Sciences by 365.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company's stock valued at $238,323,000 after purchasing an additional 8,621,567 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Roivant Sciences by 11,507.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,937,112 shares of the company's stock valued at $150,535,000 after purchasing an additional 6,877,348 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Roivant Sciences in the fourth quarter worth about $112,750,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ROIV shares. TD Cowen boosted their target price on Roivant Sciences from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Sanford C. Bernstein started coverage on Roivant Sciences in a report on Friday, March 20th. They set an "outperform" rating and a $35.00 price target for the company. Citigroup lifted their price objective on Roivant Sciences from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Guggenheim upped their price objective on Roivant Sciences from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Finally, Leerink Partners set a $42.00 price objective on Roivant Sciences in a report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Roivant Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $33.59.

Insider Buying and Selling

In related news, CEO Eric Venker sold 200,000 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total value of $6,632,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at $53,489,169.08. This trade represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 12,380 shares of the business's stock in a transaction 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 transaction, the director owned 13,689,166 shares in the company, valued at $482,953,776.48. This trade represents a 0.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,345,687 shares of company stock worth $77,017,443. 10.80% of the stock is currently owned by corporate insiders.

Roivant Sciences Stock Down 2.3%

Roivant Sciences stock opened at $35.97 on Friday. The company's 50-day moving average price is $31.08 and its 200-day moving average price is $27.74. The company has a market cap of $25.87 billion, a PE ratio of -59.95 and a beta of 1.11. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.57. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.The company had revenue of $2.52 million for the quarter, compared to analysts' expectations of $3.41 million. During the same period in the previous year, the firm posted ($0.29) earnings per share. As a group, sell-side analysts expect that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Roivant Sciences 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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