Clearline Capital LP Makes New $1.21 Million Investment in Roivant Sciences Ltd. $ROIV

Key Points

• Clearline Capital LP acquired 120,000 shares of Roivant Sciences Ltd., worth approximately $1.211 million, during the first quarter of this year.
• Multiple hedge funds made significant investment changes in Roivant Sciences, with Bank of New York Mellon Corp increasing its holdings by 16.3% and UMB Bank n.a. by 112.7% during the same quarter.
• Goldman Sachs upgraded Roivant Sciences to a "strong-buy" rating with a price target of $19.00, contributing to an overall consensus rating of "Buy" from analysts.

Clearline Capital LP bought a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 120,000 shares of the company's stock, valued at approximately $1,211,000.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Roivant Sciences by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company's stock valued at $40,362,000 after buying an additional 560,641 shares in the last quarter. GAMMA Investing LLC increased its stake in Roivant Sciences by 83.0% in the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after acquiring an additional 2,945 shares during the last quarter. Amundi raised its holdings in shares of Roivant Sciences by 18.1% during the 1st quarter. Amundi now owns 398,729 shares of the company's stock worth $3,991,000 after acquiring an additional 61,214 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Roivant Sciences by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,847,625 shares of the company's stock worth $28,733,000 after purchasing an additional 35,123 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ROIV shares. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, June 18th. Citigroup started coverage on shares of Roivant Sciences in a report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 target price on the stock. Finally, The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus price target of $17.67.

Insider Activity

In related news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the transaction, the insider directly owned 36,089,108 shares in the company, valued at approximately $451,113,850. This represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric Venker sold 100,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the transaction, the chief executive officer owned 1,653,585 shares in the company, valued at $19,380,016.20. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,218,022 shares of company stock worth $39,010,006 over the last quarter. 10.80% of the stock is currently owned by insiders.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock traded down $0.33 during trading hours on Friday, reaching $14.08. The company's stock had a trading volume of 7,587,042 shares, compared to its average volume of 6,257,181. The stock has a market cap of $9.61 billion, a P/E ratio of -20.11 and a beta of 1.15. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $14.48. The firm has a 50 day moving average price of $11.86 and a 200-day moving average price of $11.13.

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.