🔴 Roivant Sciences is trading 4.1% down today after a multi-week rally fueled by deal-related cash and index flows

Roivant Sciences is trading 4.1% down today at $35.29 as the stock pulls back following a multi-week rally fueled by deal-related cash inflows and index-driven trading.

• The recent uptrend was supported by bullish analyst coverage and significant cash inflows from recent deal activity.
• Shares previously saw a 4.7% after-hours pop on July 9 amid biotech sector momentum and its removal from key Russell indexes.
• The current decline follows a period of non-fundamental trading flows that had previously driven the share price higher during the index rebalancing.