The Manufacturers Life Insurance Company Boosts Stock Position in Roivant Sciences Ltd. $ROIV

The Manufacturers Life Insurance Company increased its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 16.8% during the first quarter, HoldingsChannel.com reports. The firm owned 699,137 shares of the company’s stock after buying an additional 100,622 shares during the period. The Manufacturers Life Insurance Company’s holdings in Roivant Sciences were worth $19,366,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Maverick Capital Ltd. bought a new stake in Roivant Sciences during the first quarter valued at $45,066,000. Quantinno Capital Management LP lifted its holdings in shares of Roivant Sciences by 15.1% in the 1st quarter. Quantinno Capital Management LP now owns 76,575 shares of the company’s stock worth $2,121,000 after acquiring an additional 10,064 shares during the last quarter. Waverly Advisors LLC purchased a new stake in Roivant Sciences during the first quarter valued at about $348,000. Affinity Asset Advisors LLC boosted its holdings in Roivant Sciences by 64.7% during the 1st quarter. Affinity Asset Advisors LLC now owns 2,800,000 shares of the company’s stock valued at $77,560,000 after acquiring an additional 1,100,000 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Roivant Sciences by 5.3% during the first quarter. Public Employees Retirement System of Ohio now owns 123,586 shares of the company’s stock valued at $3,423,000 after purchasing an additional 6,242 shares during the period. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Trading Down 1.8%

ROIV opened at $33.91 on Friday. Roivant Sciences Ltd. has a 12-month low of $10.90 and a 12-month high of $37.00. The company’s 50 day moving average is $32.63 and its 200 day moving average is $29.05. The company has a market cap of $24.39 billion, a price-to-earnings ratio of -56.52 and a beta of 1.11.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, Director Melissa B. Epperly sold 17,750 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $34.38, for a total transaction of $610,245.00. Following the completion of the sale, the director owned 16,474 shares of the company’s stock, valued at approximately $566,376.12. The trade was a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $34.95, for a total value of $6,990,000.00. Following the transaction, the chief executive officer owned 1,613,063 shares of the company’s stock, valued at approximately $56,376,551.85. This trade represents a 11.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,055,913 shares of company stock valued at $69,639,633. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

ROIV has been the subject of a number of analyst reports. 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 restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a research report on Friday. Guggenheim upped their price target on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Citigroup upped their price objective on Roivant Sciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.59.

Roivant Sciences Company 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.