Roivant Sciences Ltd. $ROIV Position Trimmed by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its Roivant Sciences stake by 14.7% in the third quarter, selling 292,747 shares and retaining about 1.70 million shares valued at $62.3 million.
• Institutional investors showed mixed activity: several increased their holdings, including Pictet Asset Management, which added 20.3%. Institutions and hedge funds collectively owned 64.76% of the company’s stock.
• Analysts’ consensus rating was Moderate Buy, with a $46.55 average price target. Meanwhile, company insiders sold about 2.02 million shares worth $73.4 million over the past 90 days.

Candriam S.C.A. trimmed its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 14.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,697,763 shares of the company's stock after selling 292,747 shares during the period. Candriam S.C.A. owned about 0.24% of Roivant Sciences worth $62,314,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ethic Inc. grew its holdings in shares of Roivant Sciences by 36.9% in the 3rd quarter. Ethic Inc. now owns 18,226 shares of the company's stock worth $667,000 after acquiring an additional 4,914 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Roivant Sciences by 20.3% during the third quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company's stock worth $152,597,000 after purchasing an additional 704,783 shares during the period. AlphaCentric Advisors LLC raised its position in shares of Roivant Sciences by 4.5% during the third quarter. AlphaCentric Advisors LLC now owns 50,535 shares of the company's stock worth $1,848,000 after purchasing an additional 2,180 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Roivant Sciences by 73.1% during the third quarter. Commonwealth Equity Services LLC now owns 17,515 shares of the company's stock valued at $641,000 after purchasing an additional 7,398 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new stake in shares of Roivant Sciences during the third quarter valued at $37,000. Institutional investors and hedge funds own 64.76% of the company's stock.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of recent analyst reports. Stifel Nicolaus assumed coverage on Roivant Sciences in a research report on Wednesday, September 16th. They issued a "buy" rating and a $51.00 price target for the company. HC Wainwright lifted their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, September 8th. Wolfe Research downgraded Roivant Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, October 12th. UBS Group set a $55.00 price objective on shares of Roivant Sciences in a research note on Wednesday, September 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Roivant Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.55.

Roivant Sciences Trading Up 6.2%

NASDAQ:ROIV opened at $38.88 on Friday. Roivant Sciences Ltd. has a 1 year low of $19.79 and a 1 year high of $42.50. The firm's fifty day simple moving average is $36.69 and its 200 day simple moving average is $31.80. The firm has a market capitalization of $28.08 billion, a PE ratio of -73.36 and a beta of 1.23.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. The business had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. As a group, analysts anticipate that Roivant Sciences Ltd. will post -2.00 EPS for the current fiscal year.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $36.31, for a total value of $7,262,000.00. Following the transaction, the chief executive officer directly owned 999,154 shares of the company's stock, valued at $36,279,281.74. The trade was a 16.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 144,756 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.48, for a total value of $5,280,698.88. Following the transaction, the insider owned 18,630,739 shares of the company's stock, valued at approximately $679,649,358.72. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,022,688 shares of company stock worth $73,438,636 in the last 90 days. 8.80% of the stock is owned by company insiders.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.

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