Matthew Gline Purchases 3,315 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Key Points

• Matthew Gline, CEO of Roivant Sciences, purchased 3,315 shares at an average price of $15.07, increasing his ownership to a total of 17,287,081 shares valued at approximately $260.5 million.
• Roivant's stock recently traded down by 1.2%, closing at $15.09, while the company has seen a 12-month trading range between $8.73 and $16.05.
• Analysts have raised their price targets for Roivant Sciences, with estimates reaching as high as $24.00, and the stock currently holds an average rating of "Moderate Buy."

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Matthew Gline acquired 3,315 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were acquired at an average cost of $15.07 per share, for a total transaction of $49,957.05. Following the purchase, the chief executive officer directly owned 17,287,081 shares in the company, valued at $260,516,310.67. This trade represents a 0.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Roivant Sciences Stock Down 1.2%

Shares of Roivant Sciences stock traded down $0.19 during trading hours on Thursday, hitting $15.09. The company's stock had a trading volume of 9,436,364 shares, compared to its average volume of 7,905,715. The stock has a 50 day moving average of $12.14 and a 200 day moving average of $11.25. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $16.05.

Hedge Funds Weigh In On Roivant Sciences

A number of large investors have recently modified their holdings of ROIV. Rubric Capital Management LP grew its holdings in shares of Roivant Sciences by 14.7% in the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after acquiring an additional 2,603,260 shares in the last quarter. State Street Corp raised its holdings in Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company's stock worth $222,847,000 after acquiring an additional 911,827 shares in the last quarter. Two Seas Capital LP boosted its position in Roivant Sciences by 4.6% during the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company's stock valued at $119,440,000 after purchasing an additional 461,733 shares during the last quarter. Invesco Ltd. grew its stake in Roivant Sciences by 3.8% in the first quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock valued at $99,695,000 after purchasing an additional 365,468 shares in the last quarter. Finally, BlackBarn Capital Partners LP increased its position in shares of Roivant Sciences by 15.2% during the 1st quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company's stock worth $47,928,000 after purchasing an additional 625,000 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ROIV. JPMorgan Chase & Co. lifted their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday. Guggenheim raised their price objective on shares of Roivant Sciences from $15.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday. Leerink Partners increased their target price on Roivant Sciences from $18.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on Roivant Sciences from $20.00 to $24.00 and gave the company a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.94.

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.

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