Roivant Sciences Ltd. $ROIV Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP decreased its stake in Roivant Sciences by 14.3%, selling 878,592 shares in the first quarter, which now values its holdings at approximately $53 million.
• Several hedge funds, including Parallel Advisors LLC and Fifth Third Bancorp, have significantly increased their positions in Roivant Sciences, with 64.76% of the stock currently owned by institutional investors.
• Analysts have positive outlooks for Roivant Sciences, with target prices ranging from $16.00 to $19.00 and a consensus rating of "Buy".

Woodline Partners LP decreased its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 14.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,253,356 shares of the company's stock after selling 878,592 shares during the quarter. Woodline Partners LP owned approximately 0.74% of Roivant Sciences worth $53,006,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ROIV. Parallel Advisors LLC boosted its stake in shares of Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after buying an additional 1,108 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Roivant Sciences by 112.7% in the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after buying an additional 2,195 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Roivant Sciences by 94.8% in the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after buying an additional 2,233 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Roivant Sciences by 59.3% in the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after buying an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Roivant Sciences by 83.0% in the first quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock worth $66,000 after buying an additional 2,945 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total value of $14,937,500.00. Following the completion of the transaction, the insider directly owned 36,089,108 shares in the company, valued at approximately $451,113,850. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total value of $1,172,000.00. Following the sale, the chief executive officer directly owned 1,653,585 shares of the company's stock, valued at $19,380,016.20. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,218,022 shares of company stock valued at $39,010,006. 10.80% of the stock is currently owned by company insiders.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded down $0.33 during trading on Friday, reaching $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 fifty-two week low of $8.73 and a fifty-two week high of $14.48. The business's 50-day moving average price is $11.86 and its 200-day moving average price is $11.14. The company has a market cap of $9.61 billion, a P/E ratio of -20.11 and a beta of 1.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ROIV. The Goldman Sachs Group upgraded Roivant Sciences to a "strong-buy" rating and set a $19.00 target price on the stock 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 started coverage on 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 analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, Roivant Sciences currently has a consensus rating of "Strong Buy" and an average price target of $17.67.

Roivant Sciences Company 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.