Platinum Investment Management Ltd. Sells 50,274 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• Platinum Investment Management reduced its Roivant Sciences stake by 21% in the fourth quarter, selling 50,274 shares and leaving it with 189,146 shares valued at about $4.1 million.
• Several large institutional investors increased their positions in Roivant, including UBS Group and Goldman Sachs, while institutional ownership overall stands at 64.76% of the stock.
• Roivant shares were up about 1% to $30.04, and analysts remain bullish overall with a Moderate Buy consensus and an average price target of $33.59.

Platinum Investment Management Ltd. lowered its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,146 shares of the company's stock after selling 50,274 shares during the period. Platinum Investment Management Ltd.'s holdings in Roivant Sciences were worth $4,104,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ROIV. UBS Group AG increased its position in shares of Roivant Sciences by 570.0% in the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company's stock worth $399,080,000 after purchasing an additional 15,645,836 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Roivant Sciences by 365.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company's stock worth $238,323,000 after purchasing an additional 8,621,567 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Roivant Sciences by 11,507.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,937,112 shares of the company's stock worth $150,535,000 after purchasing an additional 6,877,348 shares during the period. Norges Bank acquired a new stake in Roivant Sciences in the fourth quarter valued at about $112,750,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Roivant Sciences in the fourth quarter valued at about $76,272,000. Institutional investors own 64.76% of the company's stock.

Insider Transactions at Roivant Sciences

In other news, CAO Jennifer Humes sold 13,538 shares of Roivant Sciences stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total transaction of $384,073.06. Following the sale, the chief accounting officer directly owned 84,191 shares of the company's stock, valued at approximately $2,388,498.67. This trade represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Melissa B. Epperly sold 41,861 shares of Roivant Sciences stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $28.68, for a total value of $1,200,573.48. Following the sale, the director directly owned 15,804 shares in the company, valued at $453,258.72. The trade was a 72.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 945,173 shares of company stock valued at $27,654,456. Company insiders own 10.80% of the company's stock.

Roivant Sciences Trading Up 1.0%

Shares of ROIV stock opened at $30.04 on Friday. The business's 50-day moving average price is $28.95 and its 200-day moving average price is $25.98. Roivant Sciences Ltd. has a 12 month low of $10.70 and a 12 month high of $32.79. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of -50.07 and a beta of 1.13.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.57. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.The firm had revenue of $2.52 million for the quarter, compared to analyst estimates of $3.41 million. During the same period last year, the firm posted ($0.29) earnings per share. On average, sell-side analysts predict that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ROIV shares. Leerink Partners set a $42.00 price objective on Roivant Sciences in a research note on Thursday, May 21st. Citigroup raised their price objective on Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. HC Wainwright reaffirmed a "buy" rating and issued a $34.00 price objective on shares of Roivant Sciences in a research note on Thursday, May 21st. Guggenheim raised their price objective on Roivant Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings lowered Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. Ten 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 has a consensus rating of "Moderate Buy" and an average target price 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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