Entropy Technologies LP Takes Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Key Points

• Entropy Technologies LP acquired a stake in Roivant Sciences Ltd. by purchasing 99,973 shares valued at approximately $1,009,000 in Q1.
• Insiders, including CEO Eric Venker and major shareholder Vivek Ramaswamy, sold significant amounts of their shares, with Venker selling 100,000 shares for about $1.15 million.
• Goldman Sachs upgraded Roivant Sciences to a "strong-buy" rating with a target price of $19.00, indicating positive analyst sentiment surrounding the company's potential.

Entropy Technologies LP bought a new position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 99,973 shares of the company's stock, valued at approximately $1,009,000.

A number of other hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after buying an additional 1,948 shares during the period. Parallel Advisors LLC grew its stake in Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after purchasing an additional 1,108 shares in the last quarter. UMB Bank n.a. grew its stake in Roivant Sciences by 112.7% in 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 in the last quarter. Fifth Third Bancorp grew 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. Finally, GAMMA Investing LLC grew its stake in 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 in the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 566,278 shares of the company's stock in a transaction that occurred 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 owned 1,462,223 shares of the company's stock, valued at $16,406,142.06. This represents a 27.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 37,284,108 shares of the company's stock, valued at $427,275,877.68. This trade represents a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,190,503 shares of company stock valued at $36,086,546. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group upgraded Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a research note on Thursday, July 10th. 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.

Roivant Sciences Stock Performance

Shares of ROIV traded up $0.39 during trading hours on Wednesday, hitting $11.96. 6,861,560 shares of the company were exchanged, compared to its average volume of 4,493,291. The company has a market cap of $8.13 billion, a PE ratio of -17.08 and a beta of 1.15. The firm's 50 day moving average is $11.36 and its 200-day moving average is $10.89. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 2,111.79% and a negative return on equity of 15.90%. The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the previous year, the company earned ($0.23) EPS. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

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.