Pictet Asset Management Holding SA lifted its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 15.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,673,233 shares of the company's stock after purchasing an additional 360,797 shares during the quarter. Pictet Asset Management Holding SA owned about 0.37% of Roivant Sciences worth $74,049,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ROIV. SBI Securities Co. Ltd. grew its holdings in Roivant Sciences by 1,740.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company's stock valued at $27,000 after buying an additional 1,166 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Roivant Sciences by 48.1% during the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company's stock worth $27,000 after acquiring an additional 583 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Roivant Sciences during the 4th quarter worth approximately $47,000. CIBC Private Wealth Group LLC boosted its position in shares of Roivant Sciences by 7,614.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company's stock valued at $59,000 after acquiring an additional 2,665 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Roivant Sciences by 141.6% during the 4th quarter. Clearstead Advisors LLC now owns 2,907 shares of the company's stock valued at $63,000 after acquiring an additional 1,704 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Matthew Gline sold 289,774 shares of Roivant Sciences stock in a transaction dated Thursday, April 16th. The shares were 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 of the company's stock, valued at approximately $488,025,142.56. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at $53,489,169.08. This trade represents 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. In the last ninety days, insiders sold 903,312 shares of company stock valued at $27,437,883. Company insiders own 10.80% of the company's stock.
Roivant Sciences Stock Up 1.9%
Shares of ROIV opened at $34.73 on Tuesday. The business has a fifty day moving average of $29.77 and a 200 day moving average of $26.91. The company has a market cap of $24.98 billion, a PE ratio of -57.88 and a beta of 1.13. Roivant Sciences Ltd. has a 52-week low of $10.70 and a 52-week high of $34.83.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.41 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. As a group, research analysts anticipate that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ROIV has been the topic of several research reports. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. Piper Sandler reiterated an "overweight" rating on shares of Roivant Sciences in a research report on Thursday, May 21st. Weiss Ratings cut shares of Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. TD Cowen boosted 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. Finally, HC Wainwright restated a "buy" rating and set a $34.00 target price on shares of Roivant Sciences in a research report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Roivant Sciences has an average rating of "Moderate Buy" and a consensus target price of $33.59.
Read Our Latest Stock Report on Roivant Sciences
About Roivant Sciences
(
Free Report)
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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