Woodline Partners LP Reduces Stock Holdings in Roivant Sciences Ltd. $ROIV

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 reduced its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,253,356 shares of the company's stock after selling 878,592 shares during the quarter. Woodline Partners LP owned 0.74% of Roivant Sciences worth $53,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake 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 during the period. UMB Bank n.a. grew its holdings 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 valued at $42,000 after purchasing an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. grew its holdings 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 valued at $46,000 after purchasing an additional 2,233 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 valued at $52,000 after purchasing an additional 1,905 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 valued at $66,000 after purchasing an additional 2,945 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ROIV has been the subject 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 price objective for the company in a report on Thursday, July 10th. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th. Finally, Citigroup initiated coverage on shares of Roivant Sciences in a report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Buy" and an average price target of $17.67.

Insider Buying and Selling

In related news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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 owned 36,089,108 shares in the company, valued at $451,113,850. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Venker sold 100,000 shares of Roivant Sciences 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 transaction, the chief executive officer owned 1,653,585 shares of the company's stock, valued at $19,380,016.20. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,218,022 shares of company stock valued at $39,010,006 in the last quarter. 10.80% of the stock is owned by insiders.

Roivant Sciences Stock Down 2.3%

Roivant Sciences stock 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 5,936,826. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $14.48. The business has a 50 day moving average price of $11.80 and a 200 day moving average price of $11.11. The stock has a market cap of $9.61 billion, a PE ratio of -20.11 and a beta of 1.15.

About Roivant Sciences

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.