Amundi Grows Stock Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Amundi increased its stake in Roivant Sciences Ltd. by 18.1%, now holding approximately $3.99 million in shares after acquiring an additional 61,214 shares during the first quarter.
• Insider sales included major shareholder Vivek Ramaswamy selling 1,195,000 shares for about $14.94 million, which reduced his ownership by 3.21%.
• Several analysts have issued a consensus rating of "Strong Buy" for ROIV, with target prices ranging from $16.00 to $19.00.

Amundi increased its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 18.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,729 shares of the company's stock after buying an additional 61,214 shares during the quarter. Amundi owned 0.06% of Roivant Sciences worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in shares of Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after acquiring an additional 1,108 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after buying an additional 2,195 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Roivant Sciences by 94.8% in the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after buying an additional 2,233 shares during the period. Fifth Third Bancorp lifted its stake in shares of Roivant Sciences by 59.3% in the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after acquiring an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Roivant Sciences by 83.0% during the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after acquiring an additional 2,945 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ROIV shares. The Goldman Sachs Group raised Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a research note on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, June 18th. Finally, Citigroup began coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, Roivant Sciences presently has a consensus rating of "Strong Buy" and a consensus target price of $17.67.

Roivant Sciences Stock Up 1.6%

Shares of ROIV traded up $0.23 during trading hours on Tuesday, reaching $14.18. 6,167,675 shares of the company traded hands, compared to its average volume of 6,584,177. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $14.48. The company's fifty day moving average price is $11.99 and its two-hundred day moving average price is $11.18. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of -20.26 and a beta of 1.15.

Insider Activity

In related news, major shareholder Vivek Ramaswamy sold 385,816 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $12.96, for a total value of $5,000,175.36. Following the sale, the insider directly owned 35,508,359 shares of the company's stock, valued at $460,188,332.64. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Venker sold 100,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total value of $1,172,000.00. Following the completion of the transaction, the chief executive officer owned 1,653,585 shares of the company's stock, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock valued at $39,010,006 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Roivant Sciences Profile

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.