Clearbridge Investments LLC Boosts Stock Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Clearbridge Investments increased its Roivant Sciences stake by 7.7% in the fourth quarter, buying 141,549 additional shares and bringing its holding to about 1.97 million shares valued at $42.8 million.
• Roivant Sciences has seen broad institutional buying, with hedge funds and other investors owning about 64.76% of the stock. Several firms significantly boosted positions, including TD Asset Management, Neo Ivy Capital Management, and Capricorn Fund Managers.
• The company posted a surprise quarterly profit of $0.28 per share, beating analyst expectations, while analysts remain generally positive with a consensus rating of Moderate Buy and a price target of $33.59.

Clearbridge Investments LLC grew its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,972,921 shares of the company's stock after buying an additional 141,549 shares during the quarter. Clearbridge Investments LLC owned 0.28% of Roivant Sciences worth $42,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc boosted its holdings in Roivant Sciences by 94.7% in the third quarter. TD Asset Management Inc now owns 316,200 shares of the company's stock worth $4,784,000 after purchasing an additional 153,800 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Roivant Sciences in the third quarter worth approximately $877,000. HighVista Strategies LLC boosted its holdings in Roivant Sciences by 61.4% in the third quarter. HighVista Strategies LLC now owns 98,858 shares of the company's stock worth $1,496,000 after purchasing an additional 37,590 shares during the last quarter. Neo Ivy Capital Management boosted its holdings in Roivant Sciences by 229.6% in the third quarter. Neo Ivy Capital Management now owns 237,392 shares of the company's stock worth $3,592,000 after purchasing an additional 165,362 shares during the last quarter. Finally, Capricorn Fund Managers Ltd boosted its holdings in Roivant Sciences by 124.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 445,500 shares of the company's stock worth $9,667,000 after purchasing an additional 247,000 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Trading Up 2.0%

ROIV opened at $29.05 on Wednesday. Roivant Sciences Ltd. has a 1-year low of $10.70 and a 1-year high of $32.79. The company has a market capitalization of $20.89 billion, a PE ratio of -48.42 and a beta of 1.13. The firm's 50 day simple moving average is $28.83 and its two-hundred day simple moving average is $25.83.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings results 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 net margin of 3,629.19% and a negative return on equity of 20.54%. The business had revenue of $2.52 million for the quarter, compared to the consensus estimate of $3.41 million. During the same period last year, the firm earned ($0.29) earnings per share. Equities analysts forecast that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Roivant Sciences

In related news, CEO Matthew Gline sold 289,774 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total transaction of $8,449,809.84. Following the completion of the transaction, the chief executive officer directly owned 16,736,116 shares in the company, valued at approximately $488,025,142.56. The trade was a 1.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Venker sold 200,000 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total transaction of $6,054,000.00. Following the completion of the transaction, the chief executive officer owned 1,613,063 shares of the company's stock, valued at approximately $48,827,417.01. The trade was a 11.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 945,173 shares of company stock valued at $27,654,456 over the last three months. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ROIV shares. Citigroup raised their target price on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Weiss Ratings cut shares of Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, May 22nd. Sanford C. Bernstein started coverage on shares of Roivant Sciences in a report on Friday, March 20th. They issued an "outperform" rating and a $35.00 target price on the stock. Leerink Partners set a $42.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, TD Cowen raised their target price on shares of Roivant Sciences from $38.00 to $41.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Ten investment 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. According to MarketBeat.com, Roivant Sciences currently has a consensus rating of "Moderate Buy" and a consensus 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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