Jennison Associates LLC Buys 629,413 Shares of Roivant Sciences Ltd. $ROIV

Jennison Associates LLC boosted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 26.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,982,799 shares of the company’s stock after buying an additional 629,413 shares during the quarter. Jennison Associates LLC’s holdings in Roivant Sciences were worth $82,624,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. raised its stake in shares of Roivant Sciences by 1,740.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock worth $27,000 after buying an additional 1,166 shares during the period. Allworth Financial LP grew its stake in shares of Roivant Sciences by 48.1% during the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after acquiring an additional 583 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Roivant Sciences during the 4th quarter valued at approximately $47,000. CIBC Private Wealth Group LLC increased its holdings in Roivant Sciences by 7,614.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company’s stock worth $59,000 after acquiring an additional 2,665 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake in Roivant Sciences by 141.6% during the 4th quarter. Clearstead Advisors LLC now owns 2,907 shares of the company’s stock worth $63,000 after acquiring an additional 1,704 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ROIV shares. Piper Sandler reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Guggenheim raised 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. Weiss Ratings cut shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Citigroup upped their target price on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.59.

Roivant Sciences Price Performance

ROIV stock opened at $34.51 on Monday. Roivant Sciences Ltd. has a 1-year low of $10.90 and a 1-year high of $37.00. The business has a 50 day simple moving average of $31.68 and a two-hundred day simple moving average of $28.21. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of -57.52 and a beta of 1.11.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, Director Melissa B. Epperly sold 17,750 shares of Roivant Sciences stock in a transaction on 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 directly owned 16,474 shares in the company, valued at approximately $566,376.12. The trade was a 51.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 800,000 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $34.55, for a total transaction of $27,640,000.00. Following the completion of the sale, the director owned 13,701,546 shares in the company, valued at approximately $473,388,414.30. The trade was a 5.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,855,913 shares of company stock valued at $62,649,633. 10.80% of the stock is currently owned by corporate insiders.

Roivant Sciences 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.