Sofinnova Investments Inc. Sells 2,414,688 Shares of Roivant Sciences Ltd. $ROIV

Sofinnova Investments Inc. decreased its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 76.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 734,582 shares of the company’s stock after selling 2,414,688 shares during the period. Sofinnova Investments Inc.’s holdings in Roivant Sciences were worth $15,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of Roivant Sciences by 31.7% in the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock worth $1,266,402,000 after purchasing an additional 14,036,696 shares during the last quarter. Vanguard Group Inc. grew its holdings in Roivant Sciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company’s stock worth $912,681,000 after acquiring an additional 3,254,113 shares in the last quarter. Rubric Capital Management LP lifted its position in shares of Roivant Sciences by 14.7% during the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock valued at $229,574,000 after buying an additional 2,603,260 shares during the last quarter. State Street Corp lifted its position in shares of Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company’s stock valued at $222,847,000 after buying an additional 911,827 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Roivant Sciences by 570.0% during the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock valued at $399,080,000 after buying an additional 15,645,836 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Stock Down 0.0%

Shares of ROIV opened at $30.03 on Tuesday. Roivant Sciences Ltd. has a 52-week low of $10.70 and a 52-week high of $32.79. The firm’s fifty day moving average is $28.99 and its two-hundred day moving average is $26.08. The stock has a market cap of $21.60 billion, a PE ratio of -50.05 and a beta of 1.13.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.57. The company had revenue of $2.52 million for the quarter, compared to analysts’ expectations of $3.41 million. Roivant Sciences had a negative net margin of 3,629.19% and a negative return on equity of 20.54%. During the same quarter in the previous year, the company posted ($0.29) EPS. As a group, research analysts anticipate that Roivant Sciences Ltd. will post -1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Guggenheim increased their price objective on shares of 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 raised their price target on shares of Roivant Sciences from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Piper Sandler reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Sanford C. Bernstein began coverage on shares of Roivant Sciences in a research note on Friday, March 20th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $34.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.59.

Insider Activity

In other news, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $30.27, for a total value of $6,054,000.00. Following the transaction, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $48,827,417.01. This represents a 11.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jennifer Humes sold 13,538 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total value of $384,073.06. Following the transaction, the chief accounting officer owned 84,191 shares of the company’s stock, valued at approximately $2,388,498.67. This represents a 13.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 703,312 shares of company stock valued at $20,805,883. 10.80% of the stock is currently owned by insiders.

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.