Clearline Capital LP Purchases New Shares 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 position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 120,000 shares of the company's stock, valued at approximately $1,211,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after buying an additional 1,108 shares during the period. UMB Bank n.a. grew its position in Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after buying an additional 2,195 shares during the period. Russell Investments Group Ltd. grew its position in Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after buying an additional 2,233 shares during the period. Fifth Third Bancorp grew its position in shares of Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after purchasing an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Roivant Sciences by 83.0% in the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after purchasing an additional 2,945 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roivant Sciences

In other news, CEO Eric Venker sold 100,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00. Following the completion of the sale, the chief executive officer owned 1,653,585 shares of the company's stock, valued at $19,380,016.20. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vivek Ramaswamy sold 385,816 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the completion of the sale, the insider directly owned 35,508,359 shares of the company's stock, valued at $460,188,332.64. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock valued at $39,010,006 in the last three months. Company insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ROIV. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target on the stock in a research report on Thursday, July 10th. Citigroup began coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, Roivant Sciences presently has an average rating of "Strong Buy" and an average target price of $17.67.

Roivant Sciences Price Performance

NASDAQ:ROIV traded down $0.33 during trading hours on Friday, reaching $14.08. 7,586,416 shares of the company were exchanged, compared to its average volume of 5,925,047. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of -20.11 and a beta of 1.15. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $14.48. The stock has a 50 day simple moving average of $11.80 and a 200 day simple moving average of $11.11.

About Roivant Sciences

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.