Roivant Sciences Ltd. $ROIV Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 6.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,005,533 shares of the company’s stock after buying an additional 64,311 shares during the quarter. Principal Financial Group Inc.’s holdings in Roivant Sciences were worth $27,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Roivant Sciences by 8.7% during the 1st quarter. Fifth Third Bancorp now owns 4,686 shares of the company’s stock worth $130,000 after acquiring an additional 376 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Roivant Sciences by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 10,166 shares of the company’s stock valued at $282,000 after purchasing an additional 445 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Roivant Sciences by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 87,152 shares of the company’s stock valued at $1,891,000 after purchasing an additional 500 shares in the last quarter. Bank of Montreal Can increased its stake in Roivant Sciences by 1.3% in the 4th quarter. Bank of Montreal Can now owns 40,012 shares of the company’s stock valued at $868,000 after purchasing an additional 516 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after purchasing an additional 583 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In other news, Director Daniel Allen Gold sold 800,000 shares of the 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 transaction, the director directly owned 13,701,546 shares in the company, valued at $473,388,414.30. This represents a 5.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Melissa B. Epperly sold 17,750 shares of the firm’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 transaction of $610,245.00. Following the completion of the sale, the director directly owned 16,474 shares in the company, valued at $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. Over the last ninety days, insiders sold 1,855,913 shares of company stock worth $62,649,633. 10.80% of the stock is currently owned by insiders.

Roivant Sciences Stock Performance

Shares of ROIV 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 company’s 50 day simple moving average is $31.68 and its 200 day simple moving average is $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.

Wall Street Analyst Weigh In

A number of research firms have commented on ROIV. TD Cowen boosted their target price on Roivant Sciences from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Leerink Partners set a $42.00 price target on Roivant Sciences in a research report on Thursday, May 21st. Citigroup lifted their price target on Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Finally, Piper Sandler reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and a consensus 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.