Royal Bank of Canada Decreases Position in Roivant Sciences Ltd. $ROIV

Royal Bank of Canada lowered its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 82.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 110,041 shares of the company’s stock after selling 503,568 shares during the quarter. Royal Bank of Canada’s holdings in Roivant Sciences were worth $3,049,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Rock Springs Capital Management LP lifted its position in Roivant Sciences by 9.3% during the 1st quarter. Rock Springs Capital Management LP now owns 97,000 shares of the company’s stock worth $2,687,000 after acquiring an additional 8,250 shares in the last quarter. Empowered Funds LLC grew its position in Roivant Sciences by 1,468.5% in the first quarter. Empowered Funds LLC now owns 285,915 shares of the company’s stock valued at $7,920,000 after acquiring an additional 267,686 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Roivant Sciences by 16.8% in the first quarter. The Manufacturers Life Insurance Company now owns 699,137 shares of the company’s stock valued at $19,366,000 after acquiring an additional 100,622 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Roivant Sciences during the first quarter valued at approximately $45,066,000. Finally, Quantinno Capital Management LP raised its stake in shares of Roivant Sciences by 15.1% during the first quarter. Quantinno Capital Management LP now owns 76,575 shares of the company’s stock valued at $2,121,000 after purchasing an additional 10,064 shares during the period. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ROIV shares. TD Cowen restated a “buy” rating on shares of Roivant Sciences in a research note on Thursday, August 6th. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Piper Sandler reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Finally, HC Wainwright increased their price target on Roivant Sciences from $34.00 to $41.00 and gave the company a “buy” rating in a report on Friday, August 7th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Roivant Sciences Price Performance

NASDAQ ROIV opened at $36.20 on Friday. Roivant Sciences Ltd. has a 12 month low of $11.54 and a 12 month high of $37.00. The company has a market capitalization of $26.04 billion, a price-to-earnings ratio of -68.30 and a beta of 1.12. The company’s fifty day moving average price is $33.84 and its two-hundred day moving average price is $29.91.

Insider Transactions at Roivant Sciences

In other news, Director Melissa B. Epperly sold 17,750 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $34.38, for a total value of $610,245.00. Following the sale, the director owned 16,474 shares in the company, valued at approximately $566,376.12. This represents a 51.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated Monday, July 27th. The stock was sold at an average price of $34.95, for a total transaction of $6,990,000.00. Following the transaction, the chief executive officer directly owned 1,613,063 shares in the company, valued at $56,376,551.85. The trade was a 11.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,055,913 shares of company stock valued at $69,639,633. Insiders own 8.80% of the company’s stock.

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.