Roivant Sciences Ltd. $ROIV Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Roivant Sciences Ltd. by 33.2%, selling 1,900,000 shares and owning 3,819,983 shares worth approximately $38.5 million after the sale.
• Insider trading is notable, with major shareholder Vivek Ramaswamy selling 577,007 shares and CEO Eric Venker selling 100,000 shares, reflecting a 1.52% and 5.70% decrease in their holdings, respectively.
• Roivant Sciences has received multiple analyst upgrades, with target prices ranging from $16.00 to $19.00, signaling positive market sentiment for the company's stock.

Adage Capital Partners GP L.L.C. reduced its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 33.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,819,983 shares of the company's stock after selling 1,900,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.54% of Roivant Sciences worth $38,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after acquiring an additional 1,108 shares in the last quarter. UMB Bank n.a. increased its holdings in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after acquiring an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Roivant Sciences by 94.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock valued at $46,000 after acquiring an additional 2,233 shares in the last quarter. Fifth Third Bancorp increased its holdings in Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after acquiring an additional 1,905 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Roivant Sciences by 83.0% during the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after acquiring an additional 2,945 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Trading Up 4.3%

Shares of Roivant Sciences stock traded up $0.56 during mid-day trading on Tuesday, hitting $13.47. 3,252,670 shares of the stock were exchanged, compared to its average volume of 5,786,111. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.43. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of -19.20 and a beta of 1.15. The company has a 50-day simple moving average of $11.62 and a 200 day simple moving average of $11.05.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 385,816 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $12.96, for a total value of $5,000,175.36. Following the sale, the insider directly owned 35,508,359 shares of the company's stock, valued at approximately $460,188,332.64. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Venker sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the completion of the sale, the chief executive officer directly owned 1,653,585 shares in the company, valued at $19,380,016.20. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock worth $39,010,006 over the last three months. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ROIV shares. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a report on Thursday, July 10th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, June 18th. Finally, Citigroup assumed coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Roivant Sciences presently has a consensus rating of "Buy" and a consensus target price of $16.38.

Roivant Sciences Company Profile

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.