Wellington Management Group LLP Purchases 1,724,588 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• Wellington Management increased its Roivant Sciences stake by 179% in the second quarter, purchasing 1.72 million additional shares for a total holding of 2.69 million shares valued at approximately $95.1 million. Institutional investors collectively own 64.76% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $35.14; several firms have assigned targets between $41 and $42.
• Insiders sold more than 3.05 million shares worth $107.3 million over the past 90 days. Roivant shares opened at $34.52, while the company’s latest quarterly loss of $0.26 per share beat estimates, despite revenue falling below expectations.

Wellington Management Group LLP boosted its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 179.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,687,870 shares of the company's stock after buying an additional 1,724,588 shares during the quarter. Wellington Management Group LLP owned approximately 0.37% of Roivant Sciences worth $95,124,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Roivant Sciences during the 2nd quarter worth $4,936,000. Great Lakes Advisors LLC acquired a new stake in shares of Roivant Sciences in the second quarter valued at about $3,815,000. Handelsbanken Fonder AB increased its stake in shares of Roivant Sciences by 51.4% in the second quarter. Handelsbanken Fonder AB now owns 177,209 shares of the company's stock worth $6,271,000 after purchasing an additional 60,200 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Roivant Sciences by 18.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock worth $295,965,000 after purchasing an additional 1,286,464 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Roivant Sciences by 17.4% during the 2nd quarter. GAMMA Investing LLC now owns 14,637 shares of the company's stock worth $518,000 after purchasing an additional 2,172 shares during the last quarter. Institutional investors own 64.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ROIV shares. Piper Sandler reaffirmed an "overweight" rating on shares of Roivant Sciences in a report on Thursday, May 21st. HC Wainwright reiterated a "buy" rating and set a $41.00 price target on shares of Roivant Sciences in a report on Friday, August 28th. TD Cowen reissued a "buy" rating on shares of Roivant Sciences in a research report on Thursday, August 6th. Guggenheim boosted their target price on shares of Roivant Sciences from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Bank of America reiterated 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, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.14.

Insider Activity at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total value of $6,632,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $53,489,169.08. This represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 284,707 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $36.25, for a total value of $10,320,628.75. Following the completion of the transaction, the insider directly owned 18,630,739 shares of the company's stock, valued at approximately $675,364,288.75. This trade represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,055,913 shares of company stock worth $107,261,258. 8.80% of the stock is owned by corporate insiders.

Roivant Sciences Stock Down 0.3%

Shares of ROIV opened at $34.52 on Wednesday. Roivant Sciences Ltd. has a 12-month low of $11.94 and a 12-month high of $37.97. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of -65.13 and a beta of 1.12. The stock's 50-day moving average price is $35.27 and its 200 day moving average price is $31.04.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%.The firm had revenue of $1.44 million during the quarter, compared to analysts' expectations of $2.06 million. Equities research analysts expect that Roivant Sciences Ltd. will post -2 EPS for the current year.

Roivant Sciences 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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