Vestal Point Capital LP Buys New Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Vestal Point Capital LP bought a new position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,250,000 shares of the company's stock, valued at approximately $14,788,000. Vestal Point Capital LP owned 0.17% of Roivant Sciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Treasurer of the State of North Carolina grew its holdings in shares of Roivant Sciences by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company's stock worth $2,213,000 after purchasing an additional 1,170 shares during the last quarter. WINTON GROUP Ltd boosted its position in Roivant Sciences by 1.5% in the 4th quarter. WINTON GROUP Ltd now owns 92,526 shares of the company's stock valued at $1,095,000 after buying an additional 1,332 shares during the period. Covestor Ltd grew its stake in Roivant Sciences by 7.5% in the 4th quarter. Covestor Ltd now owns 20,634 shares of the company's stock worth $245,000 after acquiring an additional 1,444 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Roivant Sciences by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock worth $84,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Roivant Sciences by 6.1% during the fourth quarter. Victory Capital Management Inc. now owns 27,494 shares of the company's stock valued at $325,000 after acquiring an additional 1,588 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROIV. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Monday, April 21st. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th.

Insider Activity at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 273,959 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the completion of the sale, the insider now directly owns 39,799,611 shares in the company, valued at $456,501,538.17. This represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Eric Venker sold 434,478 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.82, for a total value of $4,701,051.96. Following the sale, the chief operating officer now directly owns 1,127,290 shares in the company, valued at approximately $12,197,277.80. The trade was a 27.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,959 shares of company stock valued at $12,355,035 over the last ninety days. 7.90% of the stock is owned by company insiders.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV traded up $0.03 during trading hours on Thursday, hitting $10.94. The company's stock had a trading volume of 2,965,894 shares, compared to its average volume of 5,585,265. The firm's fifty day moving average price is $10.53 and its 200 day moving average price is $11.06. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -72.93 and a beta of 1.23.

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.