Verition Fund Management LLC lifted its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 728,997 shares of the company's stock after acquiring an additional 99,500 shares during the period. Verition Fund Management LLC owned 0.10% of Roivant Sciences worth $15,819,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Asset Management Inc grew its stake in shares of Roivant Sciences by 94.7% in the 3rd quarter. TD Asset Management Inc now owns 316,200 shares of the company's stock valued at $4,784,000 after purchasing an additional 153,800 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Roivant Sciences in the 3rd quarter valued at approximately $877,000. HighVista Strategies LLC grew its stake in shares of 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 during the last quarter. Neo Ivy Capital Management grew its stake in shares of 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 during the last quarter. Finally, Capricorn Fund Managers Ltd grew its stake in shares of 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 during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
Roivant Sciences Price Performance
Roivant Sciences stock opened at $30.03 on Tuesday. Roivant Sciences Ltd. has a 1-year low of $10.70 and a 1-year high of $32.79. The company has a market cap of $21.60 billion, a PE ratio of -50.05 and a beta of 1.13. The stock's 50 day moving average price is $28.99 and its 200 day moving average price is $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, beating analysts' consensus estimates 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 firm had revenue of $2.52 million for the quarter, compared to the consensus estimate of $3.41 million. During the same period in the previous year, the business earned ($0.29) earnings per share. On average, equities research analysts anticipate that Roivant Sciences Ltd. will post -1.83 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ROIV has been the topic of several analyst reports. TD Cowen lifted their target price on Roivant Sciences from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Guggenheim lifted their target price on Roivant Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Piper Sandler reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Leerink Partners set a $42.00 target price on Roivant Sciences in a research note on Thursday, May 21st. Finally, Weiss Ratings downgraded Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.59.
Read Our Latest Stock Report on ROIV
Insider Activity at Roivant Sciences
In related news, CEO Matthew Gline sold 289,774 shares of Roivant Sciences stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total value of $8,449,809.84. Following the sale, the chief executive officer directly owned 16,736,116 shares in the company, valued at $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 is available through this link. Also, CEO Eric Venker sold 200,000 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total value of $6,054,000.00. Following the sale, the chief executive officer owned 1,613,063 shares in the company, valued at approximately $48,827,417.01. The trade was a 11.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 703,312 shares of company stock worth $20,805,883 over the last three months. 10.80% of the stock is currently owned by corporate insiders.
Roivant Sciences Profile
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Free Report)
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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