Illinois Municipal Retirement Fund Boosts Stake in Roivant Sciences Ltd. $ROIV

Key Points

• Illinois Municipal Retirement Fund nearly doubled its Roivant Sciences stake in Q1, increasing its holdings by 96.6% to 119,384 shares worth about $3.3 million.
• Insider selling was heavy, with CEO Eric Venker and Director Melissa B. Epperly both selling shares; over the last three months, insiders sold 1.86 million shares worth about $62.6 million.
• Analysts remain broadly positive on ROIV, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target of $33.59.

Illinois Municipal Retirement Fund raised its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 96.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,384 shares of the company's stock after purchasing an additional 58,649 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Roivant Sciences were worth $3,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ROIV. Fifth Third Bancorp increased its position in Roivant Sciences by 8.7% during the 1st quarter. Fifth Third Bancorp now owns 4,686 shares of the company's stock worth $130,000 after purchasing an additional 376 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Roivant Sciences by 4.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,166 shares of the company's stock valued at $282,000 after buying an additional 445 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Roivant Sciences by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 87,152 shares of the company's stock valued at $1,891,000 after buying an additional 500 shares in the last quarter. Bank of Montreal Can lifted its position in Roivant Sciences by 1.3% during the fourth quarter. Bank of Montreal Can now owns 40,012 shares of the company's stock valued at $868,000 after buying an additional 516 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company's stock worth $27,000 after buying an additional 583 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total value of $6,632,000.00. Following the transaction, the chief executive officer owned 1,613,063 shares in the company, valued at $53,489,169.08. The trade was a 11.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Melissa B. Epperly sold 17,750 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $34.38, for a total transaction of $610,245.00. Following the completion of the transaction, the director directly owned 16,474 shares of the company's stock, valued at approximately $566,376.12. The trade was a 51.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,855,913 shares of company stock worth $62,649,633. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ROIV. Citigroup increased their price objective on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Piper Sandler restated an "overweight" rating on shares of Roivant Sciences in a report on Thursday, May 21st. Guggenheim upped their price target on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. HC Wainwright reiterated a "buy" rating and issued a $34.00 price target on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, TD Cowen raised their price objective on Roivant Sciences from $38.00 to $41.00 and gave the company a "buy" rating in a research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Roivant Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.59.

Roivant Sciences Price Performance

ROIV opened at $34.51 on Monday. The firm has a market capitalization of $24.82 billion, a P/E ratio of -57.52 and a beta of 1.11. The firm's 50 day moving average is $31.68 and its 200-day moving average is $28.21. Roivant Sciences Ltd. has a 52-week low of $10.90 and a 52-week high of $37.00.

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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