Rafferty Asset Management LLC Purchases 55,960 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Rafferty Asset Management LLC boosted its holdings 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 and Exchange Commission (SEC). The firm owned 722,429 shares of the company's stock after purchasing an additional 55,960 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.10% of Roivant Sciences worth $8,546,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROIV. HC Wainwright reissued a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a report on Monday, April 21st. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th.

Insiders Place Their Bets

In other news, major shareholder Vivek Ramaswamy sold 273,959 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total value of $3,142,309.73. Following the transaction, the insider now owns 39,799,611 shares in the company, valued at $456,501,538.17. This represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Venker sold 434,478 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.82, for a total value of $4,701,051.96. Following the completion of the transaction, the chief operating officer now owns 1,127,290 shares in the company, valued at $12,197,277.80. This represents a 27.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,223,959 shares of company stock worth $13,420,035. Company insiders own 7.90% of the company's stock.

Roivant Sciences Stock Up 1.8%

Roivant Sciences stock traded up $0.20 during midday trading on Tuesday, hitting $11.04. The company's stock had a trading volume of 4,631,337 shares, compared to its average volume of 5,588,611. The stock's 50-day moving average price is $10.52 and its 200-day moving average price is $11.07. The company has a market capitalization of $7.88 billion, a PE ratio of -73.60 and a beta of 1.23. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month 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.