ADAR1 Capital Management LLC Sells 25,290 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• ADAR1 Capital Management LLC reduced its stake in Roivant Sciences to 3,483,404 shares, making it the fund's 3rd largest position, accounting for 6.5% of its investment portfolio.
• Roivant Sciences has seen significant interest from other institutional investors, with Parallel Advisors LLC increasing its stake by 80.5% during the first quarter.
• Recent analyst ratings include a "strong-buy" from Goldman Sachs and a consensus target price of $16.50 for the stock.

ADAR1 Capital Management LLC lessened its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,483,404 shares of the company's stock after selling 25,290 shares during the quarter. Roivant Sciences accounts for 6.5% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 3rd largest position. ADAR1 Capital Management LLC owned approximately 0.49% of Roivant Sciences worth $35,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings 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 in the last quarter. UMB Bank n.a. increased its holdings in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock valued at $42,000 after acquiring an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Roivant Sciences by 94.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock valued at $46,000 after acquiring an additional 2,233 shares in the last quarter. Fifth Third Bancorp increased its holdings in Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock valued at $52,000 after acquiring an additional 1,905 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Roivant Sciences by 83.0% during the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after acquiring an additional 2,945 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Trading Up 2.8%

Shares of Roivant Sciences stock traded up $0.35 during mid-day trading on Friday, hitting $12.92. 8,593,965 shares of the stock were exchanged, compared to its average volume of 5,242,693. The company has a 50-day simple moving average of $11.59 and a 200 day simple moving average of $11.02. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.08. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of -18.46 and a beta of 1.15.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 385,816 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $12.96, for a total value of $5,000,175.36. Following the sale, the insider directly owned 35,508,359 shares of the company's stock, valued at approximately $460,188,332.64. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Venker sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the completion of the sale, the chief executive officer directly owned 1,653,585 shares in the company, valued at $19,380,016.20. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock worth $39,010,006 over the last three months. Corporate insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ROIV shares. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a report on Thursday, July 10th. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th. Finally, Citigroup began coverage on shares of Roivant Sciences in a report on Tuesday. They set a "buy" rating and a $16.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $16.38.

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.