Roivant Sciences Ltd. $ROIV Holdings Lowered by PointState Capital LP

Key Points

• PointState Capital LP has reduced its stake in Roivant Sciences Ltd. by 17.7%, selling 582,326 shares, leaving it with approximately 2.72 million shares valued at $27.4 million at the end of the first quarter.
• Insider transactions include CEO Eric Venker selling 100,000 shares and major shareholder Vivek Ramaswamy selling 1.2 million shares, indicating a decrease in their ownership stakes.
• A number of analysts have set new price targets for Roivant Sciences, with Goldman Sachs raising its target to $19.00 and maintaining a "strong-buy" rating, reflecting positive sentiment around the stock.

PointState Capital LP lowered its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,715,123 shares of the company's stock after selling 582,326 shares during the quarter. PointState Capital LP owned approximately 0.38% of Roivant Sciences worth $27,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROIV. Parallel Advisors LLC raised its holdings in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after purchasing an additional 1,108 shares in the last quarter. UMB Bank n.a. boosted its stake in Roivant Sciences by 112.7% in the first 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. boosted its stake in Roivant Sciences by 94.8% in the first 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 boosted its stake in Roivant Sciences by 59.3% in the first 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 boosted its stake in Roivant Sciences by 83.0% in the first 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. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Stock Up 3.5%

ROIV stock traded up $0.48 during trading on Thursday, reaching $14.25. 7,501,730 shares of the company's stock were exchanged, compared to its average volume of 5,881,569. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $14.41. The company's fifty day moving average price is $11.73 and its 200-day moving average price is $11.08. The firm has a market cap of $9.73 billion, a PE ratio of -20.35 and a beta of 1.15.

Analysts Set New Price Targets

ROIV has been the topic of a number of research reports. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock in a research 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 research report on Wednesday, June 18th. Finally, Citigroup assumed coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average price target of $17.67.

Insider Buying and Selling at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 385,816 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $12.96, for a total value of $5,000,175.36. Following the completion of the sale, the insider owned 35,508,359 shares in the company, valued at $460,188,332.64. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric Venker sold 100,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00. Following the completion of the sale, the chief executive officer owned 1,653,585 shares of the company's stock, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,218,022 shares of company stock valued at $39,010,006. Insiders own 10.80% of the company's stock.

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.