Rubric Capital Management LP Sells 4,000,000 Shares of Roivant Sciences Ltd. $ROIV

Rubric Capital Management LP lessened its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 44.4% during the 1st quarter, HoldingsChannel reports. The firm owned 5,000,000 shares of the company’s stock after selling 4,000,000 shares during the period. Roivant Sciences comprises approximately 1.5% of Rubric Capital Management LP’s holdings, making the stock its 16th largest holding. Rubric Capital Management LP’s holdings in Roivant Sciences were worth $138,500,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of Roivant Sciences by 1,740.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock valued at $27,000 after purchasing an additional 1,166 shares in the last quarter. Allworth Financial LP grew its stake in shares of Roivant Sciences by 48.1% in the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after buying an additional 583 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Roivant Sciences by 33.7% in the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock valued at $57,000 after acquiring an additional 520 shares during the period. Kestra Advisory Services LLC bought a new position in Roivant Sciences during the fourth quarter worth about $47,000. Finally, Bessemer Group Inc. boosted its stake in shares of Roivant Sciences by 21.8% during the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock worth $69,000 after acquiring an additional 441 shares during the period. 64.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ROIV. TD Cowen upped their price target on shares of Roivant Sciences from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Leerink Partners set a $42.00 price target on Roivant Sciences in a research report on Thursday, May 21st. Guggenheim boosted their price objective on shares of Roivant Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Citigroup increased their target price on shares of Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Piper Sandler reiterated 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.59.

Roivant Sciences Stock Performance

ROIV stock opened at $34.72 on Tuesday. The company has a market capitalization of $24.97 billion, a P/E ratio of -57.87 and a beta of 1.11. Roivant Sciences Ltd. has a 52-week low of $10.90 and a 52-week high of $37.00. The business has a 50-day simple moving average of $32.36 and a two-hundred day simple moving average of $28.77.

Insider Transactions at Roivant Sciences

In related news, Director Melissa B. Epperly sold 17,750 shares of the 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 of the company’s stock, valued at approximately $566,376.12. This trade represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Allen Gold sold 12,380 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $35.28, for a total value of $436,766.40. Following the sale, the director directly owned 13,689,166 shares of the company’s stock, valued at approximately $482,953,776.48. This represents a 0.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,855,913 shares of company stock worth $62,649,633 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

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.