Elevation Point Wealth Partners LLC Purchases Shares of 18,884 Roivant Sciences Ltd. $ROIV

Elevation Point Wealth Partners LLC purchased a new position in Roivant Sciences Ltd. (NASDAQ:ROIV) during the first quarter, HoldingsChannel.com reports. The fund purchased 18,884 shares of the company’s stock, valued at approximately $523,000.

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

Insider Buying and Selling at Roivant Sciences

In other news, CEO Matthew Gline sold 289,774 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $29.16, for a total value of $8,449,809.84. Following the sale, the chief executive officer directly owned 16,736,116 shares of the company’s stock, valued at $488,025,142.56. The trade was a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Melissa B. Epperly sold 17,750 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $34.38, for a total value of $610,245.00. Following the completion of the sale, the director directly owned 16,474 shares in the company, valued at approximately $566,376.12. This represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,345,687 shares of company stock valued at $77,017,443 in the last quarter. 10.80% of the stock is owned by insiders.

Roivant Sciences Stock Down 0.6%

Shares of ROIV stock opened at $36.09 on Thursday. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of -60.15 and a beta of 1.11. The business’s fifty day moving average is $30.73 and its 200 day moving average is $27.58. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $36.63.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.29) by $0.57. Roivant Sciences had a negative return on equity of 20.54% and a negative net margin of 3,629.19%.The business had revenue of $2.52 million during the quarter, compared to analyst estimates of $3.41 million. During the same quarter last year, the firm posted ($0.29) earnings per share. Equities research analysts expect that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Roivant Sciences in a research report on Thursday, May 21st. Guggenheim boosted their target price on Roivant Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Piper Sandler restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Leerink Partners set a $42.00 price target on Roivant Sciences in a research note on Thursday, May 21st. Finally, TD Cowen lifted their price target on shares of Roivant Sciences from $38.00 to $41.00 and gave the company a “buy” rating in a report 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.59.

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.