Tejara Capital Ltd Raises Stock Holdings in Roivant Sciences Ltd. $ROIV

Key Points

• Tejara Capital Ltd increased its holdings in Roivant Sciences by 8.9%, owning approximately 885,662 shares worth about $8.9 million, making Roivant its third biggest holding.
• Roivant Sciences reported disappointing earnings, with a loss of $0.31 per share and revenues of $7.57 million, far below the consensus estimate of $62.17 million.
• Multiple research firms have upgraded Roivant Sciences with significant price targets, including Goldman Sachs, which set a target of $19.00.

Tejara Capital Ltd grew its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 885,662 shares of the company's stock after acquiring an additional 72,112 shares during the quarter. Roivant Sciences accounts for 3.4% of Tejara Capital Ltd's holdings, making the stock its 3rd biggest position. Tejara Capital Ltd owned 0.12% of Roivant Sciences worth $8,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after purchasing an additional 1,948 shares during the period. Parallel Advisors LLC grew its position in shares of Roivant Sciences by 80.5% in the 1st 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 during the period. UMB Bank n.a. grew its position in shares of Roivant Sciences by 112.7% in the 1st 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. Fifth Third Bancorp grew its position in shares of Roivant Sciences by 59.3% in the 1st 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of Roivant Sciences by 83.0% in the 1st 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 during the period. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Trading Down 0.4%

Shares of NASDAQ:ROIV traded down $0.05 during trading on Tuesday, reaching $11.76. 3,447,133 shares of the stock were exchanged, compared to its average volume of 5,797,773. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $13.06. The firm has a market cap of $7.99 billion, a PE ratio of -16.80 and a beta of 1.15. The stock has a 50-day moving average price of $11.39 and a 200-day moving average price of $10.89.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data 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 15.90% and a negative net margin of 2,111.79%.The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. On average, sell-side analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ROIV shares. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. The Goldman Sachs Group raised Roivant Sciences to a "strong-buy" rating and set a $19.00 price target for the company in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Roivant Sciences presently has an average rating of "Buy" and an average price target of $16.50.

Insider Buying and Selling at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction 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 transaction, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eric Venker sold 566,278 shares of the stock in a transaction 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 transaction, the chief operating officer owned 1,462,223 shares in the company, valued at $16,406,142.06. The trade was a 27.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,090,503 shares of company stock worth $34,991,546 in the last quarter. Company insiders own 10.80% of the company's stock.

About Roivant Sciences

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.