Pictet Asset Management Holding SA Acquires 360,797 Shares of Roivant Sciences Ltd. $ROIV

Pictet Asset Management Holding SA grew its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,673,233 shares of the company’s stock after purchasing an additional 360,797 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Roivant Sciences were worth $74,049,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley increased its stake in Roivant Sciences by 31.7% in the 4th quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock worth $1,266,402,000 after buying an additional 14,036,696 shares during the period. Vanguard Group Inc. grew its stake in Roivant Sciences by 8.4% in 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 increased 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 worth $229,574,000 after acquiring an additional 2,603,260 shares during the period. State Street Corp raised its stake 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 acquiring an additional 911,827 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Roivant Sciences by 570.0% in the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock valued at $399,080,000 after purchasing an additional 15,645,836 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ROIV. Weiss Ratings downgraded Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Roivant Sciences in a report on Tuesday, March 3rd. HC Wainwright reissued a “buy” rating and set a $34.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. TD Cowen raised their price target on Roivant Sciences from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Citigroup lifted 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. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $33.59.

Insider Activity

In other news, CEO Matthew Gline sold 289,774 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 16,736,116 shares of the company’s stock, valued at approximately $488,025,142.56. The trade was a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer Humes sold 13,538 shares of the business’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 completion of the transaction, the chief accounting officer directly 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 903,312 shares of company stock worth $27,437,883. 10.80% of the stock is currently owned by company insiders.

Roivant Sciences Stock Up 1.9%

Shares of ROIV stock opened at $34.73 on Tuesday. The firm has a market cap of $24.98 billion, a price-to-earnings ratio of -57.88 and a beta of 1.13. The company’s 50 day moving average is $29.77 and its 200 day moving average is $26.91. Roivant Sciences Ltd. has a 52-week low of $10.70 and a 52-week high of $34.83.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings data on Wednesday, May 20th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.57. The company had revenue of $2.52 million during the quarter, compared to the consensus estimate 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 firm posted ($0.29) earnings per share. Analysts anticipate that Roivant Sciences Ltd. will post -1.83 EPS for the current fiscal year.

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.