Rafferty Asset Management LLC Increases Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Rafferty Asset Management LLC grew its position in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 722,429 shares of the company's stock after buying an additional 55,960 shares during the quarter. Rafferty Asset Management LLC owned 0.10% of Roivant Sciences worth $8,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock valued at $28,000 after acquiring an additional 1,948 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Roivant Sciences in the fourth quarter valued at approximately $39,000. PNC Financial Services Group Inc. increased its stake in shares of Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock worth $84,000 after purchasing an additional 1,507 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Roivant Sciences by 84.1% during the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock worth $89,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Roivant Sciences by 550.1% during the 4th quarter. Blue Trust Inc. now owns 7,879 shares of the company's stock worth $91,000 after purchasing an additional 6,667 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Insiders Place Their Bets

In other news, COO Eric Venker sold 100,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the completion of the transaction, the chief operating officer now owns 1,116,345 shares of the company's stock, valued at $11,409,045.90. This represents a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Vivek Ramaswamy sold 273,959 shares of the stock in a transaction dated 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 transaction, the insider now owns 39,799,611 shares in the company, valued at approximately $456,501,538.17. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,123,959 shares of company stock valued at $12,355,035. Company insiders own 7.90% of the company's stock.

Analyst Upgrades and Downgrades

ROIV has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a report on Monday, April 21st. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th.

Roivant Sciences Stock Up 0.0%

Shares of NASDAQ:ROIV traded up $0.01 during trading on Thursday, reaching $10.92. The stock had a trading volume of 868,801 shares, compared to its average volume of 5,573,679. The stock has a market cap of $7.79 billion, a P/E ratio of -72.90 and a beta of 1.23. The business has a fifty day moving average price of $10.53 and a 200-day moving average price of $11.07. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.

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.