Cutter Capital Management LP Makes New $13.12 Million Investment in Roivant Sciences Ltd. $ROIV

Key Points

• Cutter Capital Management LP has acquired a $13.12 million stake in Roivant Sciences Ltd, purchasing 1.3 million shares, which constitutes 5.7% of its investment portfolio.
• Several hedge funds, including Patient Square Capital LP and Bank of New York Mellon Corp, have increased their holdings in Roivant Sciences, indicating strong institutional interest with 64.76% of shares currently owned by institutional investors.
• Research firms have given Roivant Sciences positive ratings, with target prices of up to $19.00 from Goldman Sachs, and the stock currently has a consensus rating of "Buy."

Cutter Capital Management LP purchased 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 disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,300,000 shares of the company's stock, valued at approximately $13,117,000. Roivant Sciences comprises about 5.7% of Cutter Capital Management LP's portfolio, making the stock its 9th biggest holding. Cutter Capital Management LP owned about 0.18% of Roivant Sciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROIV. Parallel Advisors LLC lifted its position in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after acquiring an additional 1,108 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Roivant Sciences by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company's stock worth $173,000 after purchasing an additional 1,434 shares during the period. Fifth Third Bancorp increased its stake in 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 in the last quarter. UMB Bank n.a. raised its holdings in shares of Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after purchasing an additional 2,195 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Roivant Sciences by 94.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after purchasing an additional 2,233 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Trading Up 3.3%

NASDAQ ROIV traded up $0.43 during trading hours on Tuesday, hitting $13.34. The company's stock had a trading volume of 4,406,255 shares, compared to its average volume of 5,798,223. The company has a market capitalization of $9.11 billion, a PE ratio of -19.06 and a beta of 1.15. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.53. The company's 50-day simple moving average is $11.62 and its two-hundred day simple moving average is $11.05.

Insider Buying and Selling

In other Roivant Sciences news, CEO Eric Venker sold 100,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the transaction, the chief executive officer directly owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction on Wednesday, September 3rd. The stock was 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 $451,113,850. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock worth $39,010,006 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on ROIV shares. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th. The Goldman Sachs Group raised Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective for the company in a research note on Thursday, July 10th. Finally, Citigroup began coverage on Roivant Sciences in a report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Roivant Sciences presently has a consensus rating of "Buy" and an average price target of $16.38.

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.