Roivant Sciences Ltd. (NASDAQ:ROIV) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 1,746.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,514 shares of the company's stock after purchasing an additional 61,966 shares during the quarter. GAMMA Investing LLC's holdings in Roivant Sciences were worth $6,493,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ROIV. Elevate Capital Advisors LLC acquired a new position in shares of Roivant Sciences during the fourth quarter worth $2,116,000. Thompson Siegel & Walmsley LLC grew its stake in Roivant Sciences by 10.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 565,337 shares of the company's stock worth $6,688,000 after buying an additional 51,705 shares during the last quarter. Russell Investments Group Ltd. increased its position in Roivant Sciences by 478.6% during the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Roivant Sciences during the 4th quarter valued at about $995,000. Finally, Monimus Capital Management LP purchased a new stake in Roivant Sciences in the fourth quarter valued at about $1,621,000. Institutional investors own 64.76% of the company's stock.

Wall Street Analyst Weigh In

ROIV has been the topic of a number of research analyst reports. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, May 28th.

Roivant Sciences Price Performance

Roivant Sciences stock traded up $0.14 during trading hours on Thursday, hitting $11.42. 1,596,442 shares of the stock traded hands, compared to its average volume of 5,688,078. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $13.06. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of -76.13 and a beta of 1.16. The firm's 50 day moving average price is $10.72 and its 200-day moving average price is $11.00.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. The business had revenue of $7.57 million for the quarter, compared to analysts' expectations of $62.17 million. During the same period in the prior year, the business posted ($0.23) earnings per share. Research analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Roivant Sciences

In other news, COO Eric Venker sold 566,278 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total transaction of $6,353,639.16. Following the sale, the chief operating officer now directly owns 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 through this link. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $11.47, for a total value of $3,142,309.73. Following the sale, the insider now owns 39,799,611 shares in the company, valued at $456,501,538.17. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,972,189 shares of company stock worth $33,059,785. Insiders own 7.90% of the company's stock.

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.