Roivant Sciences Ltd. $ROIV Shares Sold by Rubric Capital Management LP

Key Points

• Rubric Capital Management cut its Roivant Sciences stake by 44.4% in the first quarter, selling 4 million shares and retaining 5 million shares valued at approximately $138.5 million.
• Other institutional investors, including Vanguard, Pictet Asset Management and Capricorn Fund Managers, increased their positions; institutional investors and hedge funds collectively own 64.76% of ROIV.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $33.59, while company insiders sold approximately $62.65 million worth of shares in the latest quarter.

Rubric Capital Management LP lowered its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 44.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000,000 shares of the company's stock after selling 4,000,000 shares during the period. Roivant Sciences makes up 1.5% of Rubric Capital Management LP's holdings, making the stock its 16th largest position. Rubric Capital Management LP owned approximately 0.70% of Roivant Sciences worth $138,500,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Pictet Asset Management Holding SA lifted its holdings in shares of Roivant Sciences by 790.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,312,436 shares of the company's stock valued at $50,180,000 after buying an additional 2,052,693 shares during the period. Capricorn Fund Managers Ltd boosted its holdings in shares of Roivant Sciences by 124.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 445,500 shares of the company's stock worth $9,667,000 after buying an additional 247,000 shares during the period. Vanguard Group Inc. grew its position in Roivant Sciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company's stock worth $912,681,000 after purchasing an additional 3,254,113 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Roivant Sciences during the 4th quarter valued at about $5,435,000. Finally, Nicholas Investment Partners LP boosted its stake in shares of Roivant Sciences by 13.9% during the 4th quarter. Nicholas Investment Partners LP now owns 279,856 shares of the company's stock valued at $6,073,000 after buying an additional 34,235 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Roivant Sciences news, Director Melissa B. Epperly sold 17,750 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $34.38, for a total transaction of $610,245.00. Following the transaction, the director directly owned 16,474 shares in the company, valued at approximately $566,376.12. This represents a 51.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the completion of the transaction, the chief executive officer owned 1,613,063 shares in the company, valued at $53,489,169.08. This represents a 11.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,855,913 shares of company stock worth $62,649,633 in the last quarter. Insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler reissued an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. TD Cowen raised their price target on Roivant Sciences from $38.00 to $41.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Guggenheim boosted their target price on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Citigroup boosted their price target on Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a report on Thursday, May 21st. Ten investment 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.59.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $34.72 on Tuesday. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00. The firm has a market cap of $24.97 billion, a PE ratio of -57.87 and a beta of 1.11. The business has a fifty day moving average of $32.36 and a 200-day moving average of $28.77.

Roivant Sciences 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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