Hsbc Holdings PLC Sells 31,577 Shares of Roivant Sciences Ltd. $ROIV

Hsbc Holdings PLC cut its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 76.5% in the first quarter, Holdings Channel.com reports. The firm owned 9,720 shares of the company’s stock after selling 31,577 shares during the quarter. Hsbc Holdings PLC’s holdings in Roivant Sciences were worth $273,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its position in shares of Roivant Sciences by 790.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,312,436 shares of the company’s stock valued at $50,180,000 after buying an additional 2,052,693 shares during the period. Capricorn Fund Managers Ltd raised its holdings in shares of Roivant Sciences by 124.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 445,500 shares of the company’s stock worth $9,667,000 after buying an additional 247,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Roivant Sciences by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company’s stock worth $912,681,000 after buying an additional 3,254,113 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Roivant Sciences by 90.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 80,561 shares of the company’s stock worth $1,746,000 after acquiring an additional 38,354 shares during the last quarter. Finally, Nicholas Investment Partners LP lifted its stake in shares of Roivant Sciences by 13.9% during the 4th quarter. Nicholas Investment Partners LP now owns 279,856 shares of the company’s stock worth $6,073,000 after acquiring an additional 34,235 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $33.91 on Monday. Roivant Sciences Ltd. has a twelve month low of $10.90 and a twelve month high of $37.00. The stock has a fifty day simple moving average of $32.63 and a two-hundred day simple moving average of $29.10. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of -56.52 and a beta of 1.12.

Insider Activity

In related news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction dated Wednesday, June 24th. The stock was 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 directly owned 1,613,063 shares in the company, valued at $53,489,169.08. The trade was a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was 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 directly owned 13,701,546 shares of the company’s stock, valued at approximately $473,388,414.30. This trade represents a 5.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,055,913 shares of company stock worth $69,639,633. Company insiders own 8.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ROIV. Guggenheim upped their price objective on Roivant Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Citigroup lifted their target price on Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. TD Cowen boosted their target price 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. Bank of America restated a “neutral” rating on shares of Roivant Sciences in a report on Friday. Finally, Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Ten research 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 data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.59.

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.