Te Ahumairangi Investment Management Ltd Decreases Position in Roivant Sciences Ltd. $ROIV

Key Points

• Te Ahumairangi Investment Management cut its Roivant Sciences stake by 33.6% in Q4, selling 54,800 shares and leaving it with 108,407 shares worth about $2.35 million.
• Wall Street sentiment is broadly positive, with 10 Buy ratings, 1 Hold, and 1 Sell; the stock’s consensus target price is $33.59, and several firms recently raised targets to as high as $42.
• Roivant reported better-than-expected quarterly EPS of $0.28 versus an expected loss, but revenue came in below estimates. Insider selling has also been notable, including CEO Eric Venker’s 200,000-share sale under a 10b5-1 plan.

Te Ahumairangi Investment Management Ltd trimmed its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 108,407 shares of the company's stock after selling 54,800 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Roivant Sciences were worth $2,352,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Asset Management Inc increased its stake in shares of Roivant Sciences by 94.7% during the 3rd quarter. TD Asset Management Inc now owns 316,200 shares of the company's stock worth $4,784,000 after purchasing an additional 153,800 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Roivant Sciences in the 3rd quarter valued at about $877,000. HighVista Strategies LLC lifted its holdings in Roivant Sciences by 61.4% in the 3rd quarter. HighVista Strategies LLC now owns 98,858 shares of the company's stock valued at $1,496,000 after purchasing an additional 37,590 shares in the last quarter. Neo Ivy Capital Management lifted its holdings in Roivant Sciences by 229.6% in the 3rd quarter. Neo Ivy Capital Management now owns 237,392 shares of the company's stock valued at $3,592,000 after purchasing an additional 165,362 shares in the last quarter. Finally, Capricorn Fund Managers Ltd lifted its holdings in Roivant Sciences by 124.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 445,500 shares of the company's stock valued at $9,667,000 after purchasing an additional 247,000 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim upped their target price on shares of Roivant Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Leerink Partners set a $42.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. Citigroup lifted their price objective on Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Roivant Sciences in a research report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.59.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $29.73 on Friday. Roivant Sciences Ltd. has a 1 year low of $10.70 and a 1 year high of $32.79. The stock has a market capitalization of $21.38 billion, a P/E ratio of -49.55 and a beta of 1.13. The stock has a 50-day simple moving average of $28.91 and a 200-day simple moving average of $25.95.

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

Insider Buying and Selling

In related news, CEO Eric Venker sold 200,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total transaction of $6,054,000.00. Following the transaction, the chief executive officer directly owned 1,613,063 shares of the company's stock, valued at approximately $48,827,417.01. The trade was a 11.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Melissa B. Epperly sold 41,861 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $28.68, for a total value of $1,200,573.48. Following the transaction, the director directly owned 15,804 shares in the company, valued at $453,258.72. This trade represents a 72.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 945,173 shares of company stock valued at $27,654,456. 10.80% of the stock is owned by company 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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