Royal Bank of Canada Decreases Position in Roivant Sciences Ltd. $ROIV

Key Points

• Royal Bank of Canada cut its Roivant Sciences position by 82.1% in the first quarter, selling 503,568 shares and retaining 110,041 shares valued at approximately $3.05 million. Institutional investors collectively own 64.76% of the company.
• Roivant insiders sold 2.06 million shares worth approximately $69.6 million over the past quarter, including directors Melissa Epperly and Daniel Gold, though insiders still own 8.8% of the stock.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $35.14. ROIV recently opened at $36.20, near its 12-month high of $37.00.

Royal Bank of Canada decreased its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 82.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 110,041 shares of the company's stock after selling 503,568 shares during the period. Royal Bank of Canada's holdings in Roivant Sciences were worth $3,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ROIV. Allworth Financial LP increased its holdings in Roivant Sciences by 48.1% during the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company's stock valued at $27,000 after acquiring an additional 583 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Roivant Sciences by 1,740.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company's stock valued at $27,000 after purchasing an additional 1,166 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at about $47,000. Parallel Advisors LLC grew its position in shares of Roivant Sciences by 33.7% in the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company's stock valued at $57,000 after purchasing an additional 520 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Roivant Sciences by 7,614.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company's stock valued at $59,000 after purchasing an additional 2,665 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Insider Activity at Roivant Sciences

In other news, Director Melissa B. Epperly sold 17,750 shares of the 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 owned 16,474 shares of the company's stock, valued at $566,376.12. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 800,000 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $34.55, for a total transaction of $27,640,000.00. Following the completion of the transaction, the director directly owned 13,701,546 shares in the company, valued at approximately $473,388,414.30. This represents a 5.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,055,913 shares of company stock worth $69,639,633. Company insiders own 8.80% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ROIV shares. Leerink Partners set a $42.00 price objective on Roivant Sciences in a research report on Thursday, May 21st. Guggenheim increased their target price on Roivant Sciences from $36.00 to $42.00 and gave the company a "buy" rating in a report on Friday, August 7th. Piper Sandler reissued an "overweight" rating on shares of Roivant Sciences in a research report on Thursday, May 21st. Weiss Ratings lowered shares of Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. Finally, Bank of America reaffirmed a "neutral" rating on shares of Roivant Sciences in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.14.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $36.20 on Friday. The firm has a market capitalization of $26.04 billion, a PE ratio of -68.30 and a beta of 1.12. The business has a 50-day moving average of $33.84 and a two-hundred day moving average of $29.91. Roivant Sciences Ltd. has a 12 month low of $11.54 and a 12 month high of $37.00.

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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