Roivant Sciences Ltd. $ROIV Shares Purchased by Citigroup Inc.

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. lifted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,387 shares of the company's stock after buying an additional 81,482 shares during the quarter. Citigroup Inc. owned 0.10% of Roivant Sciences worth $7,269,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ROIV. TOMS Capital Investment Management LP boosted its stake 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 in the last quarter. Marshall Wace LLP boosted its stake 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 in the last quarter. Vestal Point Capital LP purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at approximately $14,788,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Roivant Sciences in the fourth quarter valued at approximately $13,758,000. Finally, Baker BROS. Advisors LP boosted its stake 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 in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROIV has been the topic of a number of analyst reports. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, June 18th. The Goldman Sachs Group upgraded Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a research note on Thursday, July 10th. Two equities 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. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $16.50.

Insiders Place Their Bets

In other news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business's stock in a transaction on 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 $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Eric Venker sold 566,278 shares of the business's 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 of the company's stock, valued at approximately $16,406,142.06. This trade represents 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 3,090,503 shares of company stock valued at $34,991,546. Insiders own 10.80% of the company's stock.

Roivant Sciences Trading Down 0.4%

Shares of NASDAQ ROIV traded down $0.05 during trading on Tuesday, reaching $11.76. The company had a trading volume of 3,452,711 shares, compared to its average volume of 5,805,721. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The stock has a market capitalization of $7.99 billion, a PE ratio of -16.80 and a beta of 1.15. The stock has a 50-day moving average price of $11.39 and a two-hundred day moving average price of $10.89.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. During the same period last year, the firm earned ($0.23) earnings per share. On average, sell-side analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

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.