Affinity Asset Advisors LLC Acquires Shares of 150,000 Roivant Sciences Ltd. $ROIV

Key Points

• Affinity Asset Advisors LLC acquired 150,000 shares of Roivant Sciences Ltd. ($ROIV), valued at approximately $1.5 million, during the first quarter of 2023.
• Multiple institutional investors significantly increased their stakes in Roivant Sciences, with Russell Investments Group Ltd. growing its position by 478.6% in the previous quarter.
• Analysts have set various price targets for Roivant Sciences, with HC Wainwright issuing a target price of $18.00 and Goldman Sachs providing a target of $19.00, reflecting positive sentiment toward the stock.

Affinity Asset Advisors LLC acquired a new position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 150,000 shares of the company's stock, valued at approximately $1,514,000.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Roivant Sciences by 478.6% in the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after purchasing an additional 1,948 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after purchasing an additional 1,108 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after purchasing an additional 2,195 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Roivant Sciences by 83.0% in the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after buying an additional 2,945 shares during the period. Institutional investors own 64.76% of the company's stock.

Analysts Set New Price Targets

ROIV has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $16.50.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $11.46, for a total value of $6,612,500.22. Following the completion of the transaction, the insider directly owned 37,284,108 shares of the company's stock, valued at approximately $427,275,877.68. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric Venker sold 566,278 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the completion of the transaction, the chief operating officer directly owned 1,462,223 shares of the company's stock, valued at approximately $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,190,503 shares of company stock valued at $36,163,546. 10.80% of the stock is owned by insiders.

Roivant Sciences Stock Down 2.3%

Roivant Sciences stock opened at $11.64 on Tuesday. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The firm has a 50 day moving average price of $11.44 and a 200-day moving average price of $10.93. The company has a market capitalization of $7.95 billion, a P/E ratio of -16.63 and a beta of 1.15.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%.During the same period last year, the business posted ($0.23) earnings per share. Equities analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Roivant Sciences 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.

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