Citigroup Inc. Increases Stock Position in Roivant Sciences Ltd. $ROIV

Key Points

• Citigroup Inc. has increased its holdings in Roivant Sciences Ltd. by 12.8%, now owning a total of 720,387 shares worth $7.27 million.
• The company experienced significant endorsement from analysts, with HC Wainwright maintaining a "buy" rating and a price target of $18.00, while Goldman Sachs upgraded their rating to "strong-buy" with a price target of $19.00.
• Insider activity includes major shareholder Vivek Ramaswamy selling 577,007 shares for approximately $6.61 million, resulting in a 1.52% decline in his ownership stake.

Citigroup Inc. raised its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 720,387 shares of the company's stock after purchasing an additional 81,482 shares during the period. Citigroup Inc. owned 0.10% of Roivant Sciences worth $7,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ROIV. TOMS Capital Investment Management LP raised its position in shares of Roivant Sciences by 46.6% in the fourth quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company's stock valued at $69,620,000 after buying an additional 1,870,000 shares during the last quarter. Marshall Wace LLP raised its position in shares of Roivant Sciences by 104.4% in the fourth quarter. Marshall Wace LLP now owns 2,946,954 shares of the company's stock valued at $34,862,000 after buying an additional 1,505,062 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Roivant Sciences in the fourth quarter valued at about $14,788,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Roivant Sciences in the fourth quarter valued at about $13,758,000. Finally, Baker BROS. Advisors LP raised its position in shares of Roivant Sciences by 34.6% in the fourth quarter. Baker BROS. Advisors LP now owns 3,767,773 shares of the company's stock valued at $44,573,000 after buying an additional 969,057 shares during the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Trading Up 0.8%

Roivant Sciences stock traded up $0.09 during midday trading on Thursday, hitting $11.81. 3,280,852 shares of the stock were exchanged, compared to its average volume of 4,510,177. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of -16.87 and a beta of 1.15. The stock's 50-day simple moving average is $11.42 and its 200 day simple moving average is $10.91.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings data 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 15.90% and a negative net margin of 2,111.79%.The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Equities analysts anticipate that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, June 18th. 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. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $16.50.

Insider Activity

In other Roivant Sciences news, CEO Eric Venker sold 100,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $11.52, for a total transaction of $1,152,000.00. Following the completion of the transaction, the chief executive officer owned 1,462,223 shares of the company's stock, valued at $16,844,808.96. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the transaction, the insider directly owned 37,284,108 shares of the company's stock, 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. Over the last 90 days, insiders have sold 3,090,503 shares of company stock valued at $34,991,546. 10.80% of the stock is owned by company insiders.

Roivant Sciences Company 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.