Bank of Nova Scotia Trims Stock Position in Roivant Sciences Ltd. $ROIV

Bank of Nova Scotia decreased its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 7.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,310,387 shares of the company’s stock after selling 112,613 shares during the period. Bank of Nova Scotia’s holdings in Roivant Sciences were worth $36,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in Roivant Sciences by 15.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company’s stock worth $24,553,000 after purchasing an additional 324,764 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Roivant Sciences by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company’s stock worth $24,678,000 after buying an additional 34,341 shares during the period. American Century Companies Inc. boosted its holdings in Roivant Sciences by 1.9% in the second quarter. American Century Companies Inc. now owns 89,625 shares of the company’s stock valued at $1,010,000 after acquiring an additional 1,689 shares during the last quarter. Russell Investments Group Ltd. grew its position in Roivant Sciences by 149.9% during the second quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company’s stock valued at $129,000 after acquiring an additional 6,879 shares during the period. Finally, M&T Bank Corp grew its position in Roivant Sciences by 10.2% during the second quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock valued at $144,000 after acquiring an additional 1,181 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Trading Down 0.3%

ROIV stock opened at $35.01 on Friday. The firm has a 50 day simple moving average of $32.24 and a 200-day simple moving average of $28.62. The company has a market capitalization of $25.18 billion, a P/E ratio of -58.35 and a beta of 1.11. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ROIV shares. Piper Sandler restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Weiss Ratings downgraded shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of Roivant Sciences in a report on Thursday, May 21st. Citigroup boosted their price objective on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Guggenheim increased their price objective on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.59.

Insiders Place Their Bets

In other news, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total value of $6,632,000.00. Following the completion of the sale, the chief executive officer owned 1,613,063 shares of the company’s stock, valued at approximately $53,489,169.08. The trade was a 11.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 800,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were 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. This trade represents a 5.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,855,913 shares of company stock valued at $62,649,633 in the last ninety days. 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.