Zimmer Partners LP Buys 281,600 Shares of Roivant Sciences Ltd. $ROIV

Key Points

• Zimmer Partners LP increased its stake in Roivant Sciences by 111.3% in the first quarter, owning approximately 534,500 shares valued at $5,393,000.
• Other hedge funds also raised their investments in Roivant, with notable increases from Wells Fargo (84.1% increase) and new positions established by BNP Paribas and Guardian Wealth Advisors.
• Recent analyst reports have set price targets for Roivant Sciences, with Citigroup initiating coverage at a target price of $16.00 and Goldman Sachs elevating it to $19.00, reflecting positive investor sentiment.

Zimmer Partners LP increased its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 111.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 534,500 shares of the company's stock after purchasing an additional 281,600 shares during the quarter. Zimmer Partners LP owned approximately 0.07% of Roivant Sciences worth $5,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Patient Square Capital LP lifted its holdings in Roivant Sciences by 2.1% in the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company's stock worth $147,638,000 after purchasing an additional 251,535 shares during the last quarter. Invesco Ltd. lifted its holdings in Roivant Sciences by 3.8% in the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock worth $99,695,000 after purchasing an additional 365,468 shares during the last quarter. BlackBarn Capital Partners LP lifted its holdings in shares of Roivant Sciences by 15.2% during 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Roivant Sciences by 16.3% during the first quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company's stock worth $40,362,000 after buying an additional 560,641 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Roivant Sciences during the first quarter worth approximately $31,988,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the company's stock in a transaction 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 sale, the insider directly owned 36,089,108 shares in the company, valued at approximately $451,113,850. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Venker sold 100,000 shares of the business's stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 3,218,022 shares of company stock valued at $39,010,006 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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 price target for the company in a report on Thursday, July 10th. Citigroup began coverage on Roivant Sciences in a report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, Roivant Sciences has an average rating of "Strong Buy" and an average price target of $17.67.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock traded down $0.33 during trading hours on Friday, hitting $14.08. The company's stock had a trading volume of 7,587,042 shares, compared to its average volume of 6,444,705. The stock has a 50 day moving average of $11.86 and a 200 day moving average of $11.14. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $14.48. The company has a market capitalization of $9.61 billion, a PE ratio of -20.11 and a beta of 1.15.

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.