Fig Financial Advisory Services Inc. ADV Buys New Position in Roivant Sciences Ltd. $ROIV

Key Points

• Fig Financial Advisory Services initiated a position in Roivant Sciences during the third quarter, buying 37,872 shares valued at approximately $1.385 million. Institutional investors collectively own 64.76% of the company.
• Roivant shares opened at $34.75 and were down 2.2%, while the company reported a quarterly loss of $0.26 per share—better than analysts’ expected $0.30 loss—but revenue of $1.44 million fell short of estimates.
• Wall Street remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $45.64. However, insiders sold more than 1.62 million shares worth approximately $58.8 million over the past 90 days.

Fig Financial Advisory Services Inc. ADV bought a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 37,872 shares of the company's stock, valued at approximately $1,385,000.

Several other large investors have also modified their holdings of ROIV. Baker BROS. Advisors LP lifted its stake in shares of Roivant Sciences by 47.4% in the 4th quarter. Baker BROS. Advisors LP now owns 5,555,017 shares of the company's stock worth $120,544,000 after acquiring an additional 1,787,244 shares during the period. Wellington Management Group LLP raised its holdings in Roivant Sciences by 179.0% during the second quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company's stock worth $95,124,000 after purchasing an additional 1,724,588 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Roivant Sciences during the first quarter worth about $45,066,000. Assenagon Asset Management S.A. lifted its position in Roivant Sciences by 18.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock valued at $295,965,000 after purchasing an additional 1,286,464 shares during the period. Finally, Affinity Asset Advisors LLC lifted its position in Roivant Sciences by 64.7% in the first quarter. Affinity Asset Advisors LLC now owns 2,800,000 shares of the company's stock valued at $77,560,000 after purchasing an additional 1,100,000 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Trading Down 2.2%

Shares of ROIV opened at $34.75 on Thursday. Roivant Sciences Ltd. has a twelve month low of $15.90 and a twelve month high of $42.50. The firm has a market capitalization of $25.10 billion, a P/E ratio of -65.57 and a beta of 1.10. The firm's 50-day moving average is $36.68 and its two-hundred day moving average is $32.76.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.04. The company had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. Analysts predict that Roivant Sciences Ltd. will post -2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TD Cowen boosted their target price on Roivant Sciences from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Roivant Sciences in a report on Wednesday, August 19th. Citigroup raised their price target on Roivant Sciences from $42.00 to $46.00 and gave the company a "buy" rating in a report on Monday, August 10th. UBS Group set a $55.00 price objective on Roivant Sciences in a report on Wednesday, September 9th. Finally, HC Wainwright increased their price objective on Roivant Sciences from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Roivant Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $45.64.

Insider Buying and Selling at Roivant Sciences

In other news, CEO Eric Venker sold 200,000 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $36.62, for a total value of $7,324,000.00. Following the completion of the transaction, the chief executive officer owned 1,599,154 shares in the company, valued at $58,561,019.48. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Melissa Epperly sold 17,750 shares of Roivant Sciences stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $36.10, for a total value of $640,775.00. Following the transaction, the director directly owned 14,954 shares of the company's stock, valued at $539,839.40. This trade represents a 54.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,622,688 shares of company stock valued at $58,826,636. Insiders own 8.80% of the company's stock.

About Roivant Sciences

Roivant Sciences Ltd. NASDAQ: ROIV is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with serious or underserved diseases. The company operates through a network of subsidiary companies, known as “Vants,” each dedicated to specific therapeutic areas, drug candidates or commercial opportunities.

Roivant's research and development activities have included treatments for immune-mediated diseases, rare disorders, oncology and conditions affecting the nervous system.

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