Teza Capital Management LLC Purchases New Shares in Roivant Sciences Ltd. $ROIV

Key Points

• Teza Capital Management LLC acquired a new stake in Roivant Sciences Ltd. by purchasing 20,312 shares, valued at approximately $205,000, during the 1st quarter.
• Insider selling was significant, with CEO Eric Venker selling 100,000 shares for about $1.17 million and major shareholder Vivek Ramaswamy selling 1,195,000 shares valued at around $14.94 million.
• Roivant Sciences' stock has received multiple analyst upgrades, with a current average price target of $16.38 and two analysts rating it as a Strong Buy.

Teza Capital Management LLC acquired a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,312 shares of the company's stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of Roivant Sciences in the first quarter worth about $31,988,000. Cutter Capital Management LP purchased a new stake in shares of Roivant Sciences in the first quarter worth about $13,117,000. Vestal Point Capital LP purchased a new stake in shares of Roivant Sciences in the fourth quarter worth about $14,788,000. Troluce Capital Advisors LLC purchased a new stake in shares of Roivant Sciences in the first quarter worth about $7,187,000. Finally, BlackBarn Capital Partners LP lifted its holdings in shares of Roivant Sciences by 15.2% in the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company's stock worth $47,928,000 after buying an additional 625,000 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target for the company in a research note on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. Finally, Citigroup began coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus price target of $17.67.

Insider Activity at Roivant Sciences

In other news, CEO Eric Venker sold 100,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the completion of the transaction, the insider owned 36,089,108 shares in the company, valued at $451,113,850. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock worth $39,010,006 in the last 90 days. Company insiders own 10.80% of the company's stock.

Roivant Sciences Stock Down 2.3%

Shares of Roivant Sciences stock traded down $0.33 on Friday, hitting $14.08. The stock had a trading volume of 7,587,042 shares, compared to its average volume of 6,257,181. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $14.48. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of -20.11 and a beta of 1.15. The stock's 50-day simple moving average is $11.86 and its two-hundred day simple moving average is $11.14.

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.