Charles Schwab Investment Management Inc. Boosts Holdings in 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. grew its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,847,625 shares of the company's stock after purchasing 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 and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in Roivant Sciences by 478.6% during the fourth 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 period. Parallel Advisors LLC grew its position in 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 buying an additional 1,108 shares during the period. UMB Bank n.a. grew its position in Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after buying an additional 2,195 shares during the period. Fifth Third Bancorp grew its position in Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after buying an additional 1,905 shares during the period. Finally, GAMMA Investing LLC grew its position in Roivant Sciences by 83.0% during the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after buying an additional 2,945 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several research reports. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target for the company in a research report on Thursday, July 10th. HC Wainwright restated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Roivant Sciences has a consensus rating of "Buy" and an average target price of $16.50.

Insider Buying and Selling

In other Roivant Sciences news, CEO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $11.52, for a total transaction of $1,152,000.00. Following the transaction, the chief executive officer directly owned 1,462,223 shares of the company's stock, valued at approximately $16,844,808.96. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction that occurred on Friday, June 20th. The stock was 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 in the company, valued at $427,275,877.68. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,090,503 shares of company stock worth $34,991,546 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Roivant Sciences Trading Up 0.9%

ROIV traded up $0.11 on Friday, reaching $11.92. The company had a trading volume of 4,902,270 shares, compared to its average volume of 4,413,068. The business has a 50 day simple moving average of $11.43 and a 200 day simple moving average of $10.92. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $13.06.

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