Privium Fund Management B.V. Sells 88,583 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Key Points

• Privium Fund Management B.V. reduced its stake in Roivant Sciences by 41.1%, owning 126,923 shares valued at approximately $1.28 million after the sale.
• Several institutional investors increased their holdings in Roivant Sciences, with Russell Investments Group Ltd. amplifying its position by 478.6% during the last quarter.
• Roivant Sciences reported a net loss of ($0.31) earnings per share, missing the consensus estimate by ($0.15), and had a revenue of only $7.57 million compared to expectations of $62.17 million.

Privium Fund Management B.V. lowered its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 126,923 shares of the company's stock after selling 88,583 shares during the period. Roivant Sciences makes up approximately 0.3% of Privium Fund Management B.V.'s portfolio, making the stock its 29th biggest holding. Privium Fund Management B.V.'s holdings in Roivant Sciences were worth $1,281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Roivant Sciences during the fourth quarter worth about $995,000. HighTower Advisors LLC bought a new position in shares of Roivant Sciences in the fourth quarter valued at approximately $121,000. Commonwealth Equity Services LLC increased its position in shares of Roivant Sciences by 24.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,588 shares of the company's stock valued at $232,000 after acquiring an additional 3,813 shares during the last quarter. LPL Financial LLC lifted its holdings in Roivant Sciences by 11.3% during the fourth quarter. LPL Financial LLC now owns 73,308 shares of the company's stock worth $867,000 after acquiring an additional 7,452 shares during the period. Finally, Norges Bank purchased a new position in Roivant Sciences in the fourth quarter worth $52,443,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROIV has been the subject of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, June 18th. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price objective for the company in a report on Thursday, July 10th.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 566,278 shares of Roivant Sciences stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, valued at $16,406,142.06. This trade represents a 27.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $6,612,500.22. Following the completion of the transaction, the insider directly owned 37,284,108 shares of the company's stock, valued at approximately $427,275,877.68. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,190,503 shares of company stock valued at $36,086,546 in the last quarter. Company insiders own 10.80% of the company's stock.

Roivant Sciences Stock Performance

NASDAQ ROIV traded up $0.03 on Wednesday, hitting $11.66. 3,082,472 shares of the stock traded hands, compared to its average volume of 5,828,043. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of -46.62 and a beta of 1.15. The business's fifty day moving average is $11.30 and its two-hundred day moving average is $10.87. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $13.06.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.76% and a negative net margin of 225.71%. The firm had revenue of $7.57 million during the quarter, compared to analysts' expectations of $62.17 million. During the same period last year, the business posted ($0.23) EPS. Analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Roivant Sciences 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.