BlackBarn Capital Partners LP Purchases 625,000 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• BlackBarn Capital Partners LP acquired an additional 625,000 shares of Roivant Sciences Ltd., increasing its stake by 15.2%, making it the firm's largest holding with a total of 4,750,000 shares valued at approximately $47.9 million.
• Roivant Sciences has received positive analyst ratings, with HC Wainwright and Goldman Sachs assigning "buy" ratings and price targets of $18.00 and $19.00, respectively.
• Recently reported earnings show Roivant Sciences missed consensus estimates with a loss of $0.31 per share, significantly below expectations, alongside revenue of just $7.57 million compared to a forecast of $62.17 million.

BlackBarn Capital Partners LP grew its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,750,000 shares of the company's stock after purchasing an additional 625,000 shares during the quarter. Roivant Sciences makes up approximately 3.0% of BlackBarn Capital Partners LP's holdings, making the stock its biggest holding. BlackBarn Capital Partners LP owned about 0.67% of Roivant Sciences worth $47,928,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC grew its position in Roivant Sciences by 80.5% in the 1st 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. Russell Investments Group Ltd. grew 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 purchasing an additional 1,948 shares during the last quarter. UMB Bank n.a. grew its position in 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 purchasing an additional 2,195 shares during the last quarter. Fifth Third Bancorp grew its position in Roivant Sciences by 59.3% in the 1st 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 grew its position in Roivant Sciences by 83.0% in the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after purchasing an additional 2,945 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the company'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 sale, the insider owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. This represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Venker sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 owned 1,653,585 shares of the company's stock, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 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 Trading Up 0.5%

ROIV stock traded up $0.07 on Thursday, hitting $12.06. 1,415,151 shares of the company's stock traded hands, compared to its average volume of 5,723,483. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $13.06. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of -17.22 and a beta of 1.15. The stock has a fifty day moving average of $11.47 and a 200-day moving average of $10.94.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. 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 research report on Thursday, July 10th. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Roivant Sciences currently has an average rating of "Buy" and an average target price of $16.50.

About Roivant Sciences

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.