Roivant Sciences Ltd. $ROIV Shares Purchased by Caption Management LLC

Key Points

• Caption Management LLC increased its stake in Roivant Sciences by 70.7%, acquiring an additional 106,323 shares, bringing its total holdings to 256,661 shares worth approximately $2.59 million.
• Roivant Sciences reported a loss of $0.31 per share in its most recent quarterly earnings, falling short of analyst expectations of a loss of $0.16 per share, with revenues significantly below estimates at $7.57 million.
• Analysts maintain a consensus rating of "Buy" for Roivant Sciences, with price targets ranging from $16.50 to $19.00, indicating optimism about the company's future performance.

Caption Management LLC lifted its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 70.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 256,661 shares of the company's stock after purchasing an additional 106,323 shares during the quarter. Caption Management LLC's holdings in Roivant Sciences were worth $2,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ROIV. Nuveen LLC purchased a new stake in shares of Roivant Sciences in the first quarter valued at about $31,988,000. Vestal Point Capital LP purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at about $14,788,000. Baker BROS. Advisors LP boosted its stake in Roivant Sciences by 34.6% during the fourth quarter. Baker BROS. Advisors LP now owns 3,767,773 shares of the company's stock worth $44,573,000 after buying an additional 969,057 shares during the period. Northern Trust Corp boosted its stake in Roivant Sciences by 23.3% during the fourth quarter. Northern Trust Corp now owns 3,448,082 shares of the company's stock worth $40,791,000 after buying an additional 652,615 shares during the period. Finally, BlackBarn Capital Partners LP boosted its stake in Roivant Sciences by 15.2% during the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company's stock worth $47,928,000 after buying an additional 625,000 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Analyst Upgrades and Downgrades

ROIV has been the subject of several research analyst reports. The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a research note on Thursday, July 10th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th. Finally, Citigroup initiated coverage on shares of Roivant Sciences in a research note on Tuesday. They set a "buy" rating and a $16.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Roivant Sciences has an average rating of "Buy" and a consensus price target of $16.38.

Insider Activity at Roivant Sciences

In related news, CEO Eric Venker sold 100,000 shares of the firm'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 value of $1,172,000.00. Following the sale, the chief executive officer owned 1,653,585 shares of the company's stock, valued at $19,380,016.20. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $6,612,500.22. Following the completion of the sale, the insider directly owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. This trade represents a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,643,073 shares of company stock worth $18,800,748. 10.80% of the stock is owned by corporate insiders.

Roivant Sciences Stock Performance

Shares of ROIV traded up $0.20 during mid-day trading on Wednesday, hitting $12.59. 10,392,342 shares of the company's stock were exchanged, compared to its average volume of 4,523,303. The company has a market cap of $8.60 billion, a price-to-earnings ratio of -17.99 and a beta of 1.15. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The stock's 50-day moving average is $11.54 and its 200-day moving average is $11.00.

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.