Sofinnova Investments Inc. Lowers Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Sofinnova Investments sharply reduced its Roivant Sciences stake by 76.7% in the fourth quarter, selling 2.41 million shares and leaving it with 734,582 shares valued at about $15.94 million.
• Despite the sale, institutional ownership remains high at 64.76%, and several other funds increased or initiated positions in the biotech company during the quarter.
• Analysts remain generally positive on ROIV, with a Moderate Buy consensus and an average price target of $33.59; the stock recently opened at $30.03 after Roivant reported better-than-expected quarterly EPS.

Sofinnova Investments Inc. cut its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 76.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 734,582 shares of the company's stock after selling 2,414,688 shares during the quarter. Sofinnova Investments Inc. owned about 0.10% of Roivant Sciences worth $15,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Truvestments Capital LLC raised its position in shares of Roivant Sciences by 109.7% during the 4th quarter. Truvestments Capital LLC now owns 3,680 shares of the company's stock valued at $80,000 after buying an additional 1,925 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Roivant Sciences by 3.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 44,956 shares of the company's stock worth $976,000 after acquiring an additional 1,342 shares during the last quarter. Verition Fund Management LLC grew its holdings in Roivant Sciences by 15.8% in the 4th quarter. Verition Fund Management LLC now owns 728,997 shares of the company's stock worth $15,819,000 after acquiring an additional 99,500 shares during the last quarter. MML Investors Services LLC bought a new stake in Roivant Sciences in the 4th quarter worth $1,553,000. Finally, Mariner LLC lifted its position in shares of Roivant Sciences by 28.9% in the 4th quarter. Mariner LLC now owns 93,306 shares of the company's stock worth $2,025,000 after purchasing an additional 20,924 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ROIV shares. Sanford C. Bernstein began coverage on shares of Roivant Sciences in a research report on Friday, March 20th. They issued an "outperform" rating and a $35.00 target price for the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Roivant Sciences in a report on Tuesday, March 3rd. HC Wainwright reaffirmed a "buy" rating and issued a $34.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Finally, Guggenheim lifted their price target on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.59.

Roivant Sciences Price Performance

ROIV opened at $30.03 on Tuesday. The firm has a market cap of $21.60 billion, a P/E ratio of -50.05 and a beta of 1.13. Roivant Sciences Ltd. has a 1-year low of $10.70 and a 1-year high of $32.79. The company has a 50 day simple moving average of $28.99 and a two-hundred day simple moving average of $26.08.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.57. Roivant Sciences had a negative net margin of 3,629.19% and a negative return on equity of 20.54%. The business had revenue of $2.52 million during the quarter, compared to analyst estimates of $3.41 million. During the same period in the prior year, the business posted ($0.29) earnings per share. Equities analysts anticipate that Roivant Sciences Ltd. will post -1.83 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other news, CEO Matthew Gline sold 289,774 shares of the business's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $29.16, for a total value of $8,449,809.84. Following the transaction, the chief executive officer owned 16,736,116 shares of the company's stock, valued at approximately $488,025,142.56. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Humes sold 13,538 shares of the business's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total transaction of $384,073.06. Following the completion of the transaction, the chief accounting officer directly owned 84,191 shares in the company, valued at $2,388,498.67. This trade represents a 13.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 703,312 shares of company stock valued at $20,805,883. 10.80% of the stock is currently owned by corporate insiders.

About Roivant Sciences

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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