Vanguard Group Inc. Decreases Position in Roivant Sciences Ltd. $ROIV

Key Points

• Vanguard Group Inc. reduced its holdings in Roivant Sciences by 7.5%, bringing its total ownership to 40,767,590 shares, valued at approximately $411 million.
• Roivant Sciences missed analysts' earnings estimates for the recent quarter, reporting a loss of ($0.31) per share against a consensus of ($0.16), with revenues significantly lower than expected at $7.57 million.
• Several hedge funds have increased their positions in Roivant Sciences, with Parallel Advisors LLC's stake growing by 80.5% during the first quarter.

Vanguard Group Inc. reduced its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,767,590 shares of the company's stock after selling 3,319,697 shares during the quarter. Vanguard Group Inc. owned about 5.71% of Roivant Sciences worth $411,345,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in shares of Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after buying an additional 1,108 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after buying an additional 1,948 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after buying an additional 2,195 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after buying an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Roivant Sciences by 83.0% during the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after buying an additional 2,945 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Price Performance

ROIV traded up $0.0150 during midday trading on Tuesday, reaching $11.8250. 1,648,240 shares of the company's stock traded hands, compared to its average volume of 5,793,454. The firm has a fifty day moving average of $11.39 and a two-hundred day moving average of $10.89. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of -16.91 and a beta of 1.15. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The firm had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%.During the same period in the prior year, the company posted ($0.23) EPS. Sell-side analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In related news, COO Eric Venker sold 566,278 shares of Roivant Sciences stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the transaction, the chief operating officer directly owned 1,462,223 shares in the company, valued at approximately $16,406,142.06. The trade was a 27.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $11.46, for a total value of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,090,503 shares of company stock worth $34,991,546. Company insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. The Goldman Sachs Group upgraded Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a report on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $16.50.

Roivant Sciences Company Profile

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.