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CenterBook Partners LP Takes Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Roivant Sciences logo with Medical background

CenterBook Partners LP purchased a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 151,744 shares of the company's stock, valued at approximately $1,531,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Roivant Sciences by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,847,625 shares of the company's stock worth $28,733,000 after buying an additional 35,123 shares during the period. New Age Alpha Advisors LLC raised its holdings in shares of Roivant Sciences by 37.1% in the first quarter. New Age Alpha Advisors LLC now owns 21,966 shares of the company's stock valued at $222,000 after purchasing an additional 5,943 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Roivant Sciences by 44.8% in the first quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the company's stock worth $103,000 after purchasing an additional 3,169 shares in the last quarter. XTX Topco Ltd boosted its holdings in Roivant Sciences by 634.1% during the first quarter. XTX Topco Ltd now owns 256,714 shares of the company's stock worth $2,590,000 after purchasing an additional 221,742 shares during the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Roivant Sciences in the first quarter valued at about $111,000. 64.76% of the stock is owned by institutional investors.

Insider Activity at Roivant Sciences

In other news, COO Eric Venker sold 566,278 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.22, for a total value of $6,353,639.16. Following the completion of the transaction, the chief operating officer directly owned 1,462,223 shares in the company, valued at approximately $16,406,142.06. This represents a 27.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the company's stock in a transaction dated Friday, June 20th. The stock was 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. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,464,462 shares of company stock valued at $39,098,856. 7.90% of the stock is owned by insiders.

Roivant Sciences Stock Performance

NASDAQ:ROIV traded down $0.17 during mid-day trading on Friday, reaching $11.49. 2,094,054 shares of the company's stock were exchanged, compared to its average volume of 5,728,600. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06. The business's fifty day simple moving average is $11.14 and its two-hundred day simple moving average is $10.86. The firm has a market capitalization of $7.81 billion, a PE ratio of -45.94 and a beta of 1.15.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share 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 business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the prior year, the company earned ($0.23) earnings per share. As a group, equities research analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th. The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective for the company in a research report on Thursday, July 10th.

Check Out Our Latest Stock Analysis on Roivant Sciences

Roivant Sciences Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Roivant Sciences (NASDAQ:ROIV)

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