Bank of New York Mellon Corp Sells 1,727,819 Shares of Roivant Sciences Ltd. $ROIV

Bank of New York Mellon Corp lessened its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 37.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,903,129 shares of the company’s stock after selling 1,727,819 shares during the period. Bank of New York Mellon Corp’s holdings in Roivant Sciences were worth $62,998,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Roivant Sciences by 365.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company’s stock valued at $238,323,000 after acquiring an additional 8,621,567 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Roivant Sciences by 4.2% in the 4th quarter. Natixis Advisors LLC now owns 63,581 shares of the company’s stock valued at $1,380,000 after acquiring an additional 2,542 shares in the last quarter. AXQ Capital LP grew its holdings in shares of Roivant Sciences by 114.8% in the 4th quarter. AXQ Capital LP now owns 27,879 shares of the company’s stock valued at $605,000 after acquiring an additional 14,898 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Roivant Sciences in the 4th quarter valued at about $10,676,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Roivant Sciences by 30.4% in the 4th quarter. BNP Paribas Financial Markets now owns 2,294,506 shares of the company’s stock valued at $49,791,000 after acquiring an additional 534,626 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ROIV shares. Citigroup raised their price objective on Roivant Sciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Sanford C. Bernstein started coverage on Roivant Sciences in a report on Friday, March 20th. They set an “outperform” rating and a $35.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Roivant Sciences in a report on Tuesday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.59.

Roivant Sciences Trading Up 2.0%

NASDAQ ROIV opened at $29.05 on Wednesday. The company has a 50 day moving average of $28.83 and a 200-day moving average of $25.83. The company has a market cap of $20.89 billion, a price-to-earnings ratio of -48.42 and a beta of 1.13. Roivant Sciences Ltd. has a 1-year low of $10.70 and a 1-year high of $32.79.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.57. The business 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 period last year, the firm posted ($0.29) earnings per share. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -1.83 earnings per share for the current year.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CAO Jennifer Humes sold 13,538 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $28.37, for a total transaction of $384,073.06. Following the sale, the chief accounting officer owned 84,191 shares of the company’s stock, valued at approximately $2,388,498.67. The trade was a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $30.27, for a total transaction of $6,054,000.00. Following the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at approximately $48,827,417.01. The trade was a 11.03% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 945,173 shares of company stock worth $27,654,456. Corporate insiders own 10.80% of the company’s stock.

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.