Roivant Sciences Ltd. $ROIV Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,735,824 shares of the company’s stock after selling 167,305 shares during the period. Bank of New York Mellon Corp’s holdings in Roivant Sciences were worth $75,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ROIV. Goldman Sachs Group Inc. boosted its stake in shares of Roivant Sciences by 15.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company’s stock worth $24,553,000 after acquiring an additional 324,764 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Roivant Sciences by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company’s stock valued at $24,678,000 after purchasing an additional 34,341 shares in the last quarter. American Century Companies Inc. increased its stake in Roivant Sciences by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 89,625 shares of the company’s stock valued at $1,010,000 after purchasing an additional 1,689 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Roivant Sciences by 149.9% during the second quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company’s stock worth $129,000 after purchasing an additional 6,879 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Roivant Sciences by 10.2% during the second quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock worth $144,000 after purchasing an additional 1,181 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Melissa B. Epperly sold 17,750 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $34.38, for a total value of $610,245.00. Following the sale, the director directly owned 16,474 shares in the company, valued at $566,376.12. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total value of $6,632,000.00. Following the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $53,489,169.08. The trade was a 11.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,855,913 shares of company stock valued at $62,649,633. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROIV. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of Roivant Sciences in a report on Thursday, May 21st. Guggenheim raised their price target on Roivant Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. TD Cowen lifted their price target on Roivant Sciences from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Citigroup boosted their price objective on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Leerink Partners set a $42.00 price objective on shares of Roivant Sciences in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.59.

Roivant Sciences Stock Performance

ROIV stock opened at $34.96 on Wednesday. Roivant Sciences Ltd. has a 1 year low of $10.90 and a 1 year high of $37.00. The stock’s 50 day moving average price is $31.90 and its 200 day moving average price is $28.39. The firm has a market cap of $25.15 billion, a P/E ratio of -58.27 and a beta of 1.11.

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.