CenterBook Partners LP Buys Shares of 151,744 Roivant Sciences Ltd. (NASDAQ:ROIV)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Roivant Sciences in the fourth quarter worth about $52,443,000. Invesco Ltd. boosted its position in shares of Roivant Sciences by 49.7% during the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock worth $112,563,000 after buying an additional 3,159,603 shares during the period. Vanguard Group Inc. boosted its position in shares of Roivant Sciences by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock worth $521,553,000 after buying an additional 2,404,232 shares during the period. TOMS Capital Investment Management LP boosted its position in shares of Roivant Sciences by 46.6% during the fourth quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company's stock worth $69,620,000 after buying an additional 1,870,000 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Roivant Sciences by 104.4% during the fourth quarter. Marshall Wace LLP now owns 2,946,954 shares of the company's stock worth $34,862,000 after buying an additional 1,505,062 shares during the period. Institutional investors own 64.76% of the company's stock.

Insider Activity

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business'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 sale, the insider directly owned 37,284,108 shares of the company's stock, valued at $427,275,877.68. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eric Venker sold 566,278 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total value of $6,353,639.16. Following the completion of the sale, the chief operating officer directly owned 1,462,223 shares of the company's stock, valued at $16,406,142.06. The trade was a 27.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,464,462 shares of company stock valued at $39,098,856. Corporate insiders own 7.90% of the company's stock.

Roivant Sciences Trading Down 1.8%

Shares of ROIV stock traded down $0.21 during trading hours on Friday, reaching $11.44. The company's stock had a trading volume of 4,929,187 shares, compared to its average volume of 5,745,151. The firm's 50 day simple moving average is $11.16 and its 200-day simple moving average is $10.85. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced 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). The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. During the same period in the previous year, the firm posted ($0.23) earnings per share. Equities analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.