Assenagon Asset Management S.A. Has $295.96 Million Position in Roivant Sciences Ltd. $ROIV

Assenagon Asset Management S.A. boosted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 18.2% during the second quarter, Holdings Channel.com reports. The fund owned 8,362,952 shares of the company’s stock after acquiring an additional 1,286,464 shares during the period. Assenagon Asset Management S.A.’s holdings in Roivant Sciences were worth $295,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Roivant Sciences by 48.1% in the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after purchasing an additional 583 shares during the period. SBI Securities Co. Ltd. raised its stake in Roivant Sciences by 1,740.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock valued at $27,000 after purchasing an additional 1,166 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Roivant Sciences during the fourth quarter worth about $47,000. Parallel Advisors LLC lifted its position in Roivant Sciences by 33.7% during the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock worth $57,000 after purchasing an additional 520 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Roivant Sciences by 7,614.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company’s stock worth $59,000 after buying an additional 2,665 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROIV has been the topic of several recent analyst reports. Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. Weiss Ratings downgraded shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. Guggenheim lifted their price objective on shares of Roivant Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Piper Sandler reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.59.

Insider Transactions at Roivant Sciences

In related news, Director Daniel Allen Gold sold 800,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $34.55, for a total transaction of $27,640,000.00. Following the completion of the transaction, the director directly owned 13,701,546 shares in the company, valued at $473,388,414.30. This represents a 5.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the transaction, the chief executive officer owned 1,613,063 shares of the company’s stock, valued at approximately $53,489,169.08. This represents a 11.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 2,055,913 shares of company stock valued at $69,639,633. 8.80% of the stock is currently owned by insiders.

Roivant Sciences Stock Up 1.5%

NASDAQ:ROIV opened at $35.12 on Friday. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00. The stock’s 50-day simple moving average is $33.00 and its 200 day simple moving average is $29.41. The firm has a market capitalization of $25.26 billion, a PE ratio of -58.53 and a beta of 1.12.

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.