Assenagon Asset Management S.A. Acquires Shares of 56,537 Roivant Sciences Ltd. (NASDAQ:ROIV)

Assenagon Asset Management S.A. acquired a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 56,537 shares of the company's stock, valued at approximately $570,000.

A number of other hedge funds also recently made changes to their positions in ROIV. Russell Investments Group Ltd. lifted its position in Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after buying an additional 1,948 shares during the last quarter. Parallel Advisors LLC grew its position in Roivant Sciences by 80.5% during the first 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 during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Roivant Sciences during the fourth quarter worth approximately $39,000. UMB Bank n.a. lifted its holdings in shares of Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after acquiring an additional 2,195 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Roivant Sciences by 83.0% in the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after purchasing an additional 2,945 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Wednesday.

Roivant Sciences Price Performance

Roivant Sciences stock traded up $0.01 during trading hours on Friday, reaching $11.45. The company had a trading volume of 18,135,570 shares, compared to its average volume of 5,679,985. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06. The company has a 50-day moving average price of $10.94 and a 200 day moving average price of $10.95. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of -45.80 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The firm had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the prior year, the business posted ($0.23) EPS. As a group, research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Insider Activity

In other news, major shareholder Vivek Ramaswamy sold 273,959 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the transaction, the insider now directly owns 39,799,611 shares of the company's stock, valued at approximately $456,501,538.17. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric Venker sold 100,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $10.22, for a total value of $1,022,000.00. Following the transaction, the chief operating officer now owns 1,116,345 shares of the company's stock, valued at approximately $11,409,045.90. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,656,667 shares of company stock valued at $29,570,112. Insiders own 7.90% of the company's stock.

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.