Principal Financial Group Inc. Boosts Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Principal Financial Group boosted its stake in Roivant Sciences by 6.8% in the first quarter, buying 64,311 additional shares and bringing its total holding to 1,005,533 shares valued at about $27.9 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding about 64.76% of Roivant’s stock. Several other firms also added to their positions during recent quarters.
• Analysts remain largely bullish on Roivant Sciences, with 10 Buy ratings, one Hold, and one Sell; the consensus price target is $33.59, while some firms have recently raised targets into the low-$40s.

Principal Financial Group Inc. increased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,005,533 shares of the company's stock after acquiring an additional 64,311 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Roivant Sciences worth $27,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROIV. Fifth Third Bancorp grew its holdings in shares of Roivant Sciences by 8.7% during the first quarter. Fifth Third Bancorp now owns 4,686 shares of the company's stock worth $130,000 after purchasing an additional 376 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Roivant Sciences by 4.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 10,166 shares of the company's stock worth $282,000 after buying an additional 445 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Roivant Sciences by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 87,152 shares of the company's stock worth $1,891,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can increased 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 worth $868,000 after buying an additional 516 shares during the period. Finally, Allworth Financial LP increased its position 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 hedge funds and other institutional investors.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $34.51 on Monday. Roivant Sciences Ltd. has a 52 week low of $10.90 and a 52 week high of $37.00. The company has a 50-day moving average price of $31.68 and a 200 day moving average price 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $34.00 price objective on shares of Roivant Sciences in a research note on Thursday, May 21st. Guggenheim lifted their target price on shares of Roivant Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Citigroup upped their price target on shares of Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Leerink Partners set a $42.00 price objective on shares of Roivant Sciences in a research report on Thursday, May 21st. Finally, TD Cowen raised their price objective on shares of Roivant Sciences from $38.00 to $41.00 and gave the stock 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 given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.59.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, Director Daniel Allen Gold sold 800,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $34.55, for a total value of $27,640,000.00. Following the completion of the transaction, the director owned 13,701,546 shares in the company, valued at approximately $473,388,414.30. This represents a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Melissa B. Epperly sold 17,750 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 16,474 shares of the company's stock, valued at approximately $566,376.12. This trade represents a 51.86% decrease in their position. 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. In the last three months, insiders sold 1,855,913 shares of company stock valued at $62,649,633. Corporate insiders own 10.80% of the company's stock.

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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