Amundi Buys 61,214 Shares of 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 raised its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 18.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ROIV. PDT Partners LLC lifted its position in shares of Roivant Sciences by 11.9% during the 1st quarter. PDT Partners LLC now owns 568,891 shares of the company's stock worth $5,740,000 after buying an additional 60,460 shares during the period. Troluce Capital Advisors LLC bought a new stake in shares of Roivant Sciences during the first quarter worth $7,187,000. Caption Management LLC raised its position in shares of Roivant Sciences by 70.7% during the first quarter. Caption Management LLC now owns 256,661 shares of the company's stock worth $2,590,000 after acquiring an additional 106,323 shares during the last quarter. Quarry LP bought a new stake in shares of Roivant Sciences during the first quarter worth $129,000. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Roivant Sciences during the first quarter worth $1,514,000. Institutional investors own 64.76% of the company's stock.

Insider Transactions at Roivant Sciences

In other news, CEO Eric Venker sold 100,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,653,585 shares in the company, valued at $19,380,016.20. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Vivek Ramaswamy sold 385,816 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $12.96, for a total value of $5,000,175.36. Following the completion of the sale, the insider owned 35,508,359 shares in the company, valued at approximately $460,188,332.64. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,218,022 shares of company stock worth $39,010,006. Corporate insiders own 10.80% of the company's stock.

Analyst Ratings Changes

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

Roivant Sciences Stock Performance

NASDAQ:ROIV traded down $0.33 on Friday, reaching $14.08. The company's stock had a trading volume of 7,587,042 shares, compared to its average volume of 6,257,181. The firm has a market cap of $9.61 billion, a PE ratio of -20.11 and a beta of 1.15. The business's 50-day moving average price is $11.86 and its two-hundred day moving average price is $11.14. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $14.48.

About Roivant Sciences

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.