Jennison Associates LLC Boosts Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Jennison Associates LLC boosted its Roivant Sciences stake by 26.7% in the first quarter, adding 629,413 shares to bring its total to 2,982,799 shares valued at about $82.6 million.
• Other big institutional holders also increased positions, and 64.76% of Roivant’s stock is owned by hedge funds and other institutions, showing heavy professional investor interest.
• Analysts remain upbeat on ROIV, with multiple firms raising price targets and the stock carrying a “Moderate Buy” consensus rating with an average target price of $33.59.

Jennison Associates LLC increased its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 26.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,982,799 shares of the company's stock after purchasing an additional 629,413 shares during the period. Jennison Associates LLC owned approximately 0.42% of Roivant Sciences worth $82,624,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Morgan Stanley raised its holdings in Roivant Sciences by 31.7% in the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company's stock worth $1,266,402,000 after buying an additional 14,036,696 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Roivant Sciences by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company's stock valued at $912,681,000 after buying an additional 3,254,113 shares during the last quarter. Rubric Capital Management LP grew its holdings in shares of Roivant Sciences by 14.7% during the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after buying an additional 2,603,260 shares during the last quarter. State Street Corp increased its position in shares of Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company's stock valued at $222,847,000 after acquiring an additional 911,827 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Roivant Sciences by 570.0% during the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company's stock valued at $399,080,000 after acquiring an additional 15,645,836 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ROIV shares. Leerink Partners set a $42.00 price objective on shares of Roivant Sciences in a report on Thursday, May 21st. Citigroup lifted their target price on Roivant Sciences from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Piper Sandler restated an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Guggenheim upped their price target on Roivant Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Finally, TD Cowen increased 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 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.59.

Insider Transactions at Roivant Sciences

In related news, Director Melissa B. Epperly sold 17,750 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $34.38, for a total value of $610,245.00. Following the transaction, the director owned 16,474 shares of the company's stock, valued at approximately $566,376.12. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 800,000 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $34.55, for a total transaction of $27,640,000.00. Following the sale, the director owned 13,701,546 shares of the company's stock, valued at $473,388,414.30. This trade represents a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,855,913 shares of company stock worth $62,649,633 in the last quarter. Company insiders own 10.80% of the company's stock.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $34.51 on Monday. The business has a 50-day simple moving average of $31.68 and a two-hundred day simple moving average of $28.21. The company has a market cap of $24.82 billion, a P/E ratio of -57.52 and a beta of 1.11. Roivant Sciences Ltd. has a 52-week low of $10.90 and a 52-week high of $37.00.

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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