Charles Schwab Investment Management Inc. Buys 35,123 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Roivant Sciences by 1.2% during Q1, owning 2,847,625 shares worth approximately $28.73 million.
• The majority of Roivant Sciences' stock, approximately 64.76%, is owned by hedge funds and other institutional investors, indicating strong institutional interest in the company.
• Analysts have mixed views on Roivant Sciences, with a consensus rating of "Buy" and price targets ranging from $16.50 to $19.00, following its recent earnings miss.

Charles Schwab Investment Management Inc. raised its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,847,625 shares of the company's stock after buying an additional 35,123 shares during the period. Charles Schwab Investment Management Inc. owned about 0.40% of Roivant Sciences worth $28,733,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in shares of Roivant Sciences by 11.3% during the fourth quarter. LPL Financial LLC now owns 73,308 shares of the company's stock worth $867,000 after purchasing an additional 7,452 shares during the period. Wells Fargo & Company MN increased its position in shares of Roivant Sciences by 84.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $89,000 after acquiring an additional 3,426 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Roivant Sciences during the fourth quarter valued at approximately $318,000. 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 buying an additional 1,948 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Roivant Sciences during the 4th quarter valued at $995,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

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

Roivant Sciences Trading Down 2.3%

Roivant Sciences stock traded down $0.28 during mid-day trading on Monday, hitting $11.64. The stock had a trading volume of 3,331,922 shares, compared to its average volume of 4,440,270. The firm has a market capitalization of $7.95 billion, a P/E ratio of -16.63 and a beta of 1.15. The firm's 50 day moving average is $11.44 and its 200 day moving average is $10.93. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The firm had revenue of $7.57 million during 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 period in the prior year, the company posted ($0.23) EPS. As a group, equities research analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Roivant Sciences Company 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.