Adage Capital Partners GP L.L.C. Reduces Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

Adage Capital Partners GP L.L.C. decreased its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,719,983 shares of the company's stock after selling 34,752 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.79% of Roivant Sciences worth $67,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Roivant Sciences during the fourth quarter worth $52,443,000. Invesco Ltd. raised its stake in Roivant Sciences by 49.7% in the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock worth $112,563,000 after purchasing an additional 3,159,603 shares in the last quarter. Vanguard Group Inc. increased its holdings in Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock valued at $521,553,000 after buying an additional 2,404,232 shares during the period. Marshall Wace LLP increased its holdings in Roivant Sciences by 104.4% in the 4th quarter. Marshall Wace LLP now owns 2,946,954 shares of the company's stock valued at $34,862,000 after buying an additional 1,505,062 shares during the period. Finally, Pertento Partners LLP increased its holdings in Roivant Sciences by 22.8% in the 4th quarter. Pertento Partners LLP now owns 3,484,918 shares of the company's stock valued at $41,227,000 after buying an additional 646,865 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ROIV shares. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Monday, April 21st.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded up $0.09 during trading on Tuesday, hitting $11.28. 1,904,278 shares of the company traded hands, compared to its average volume of 5,815,097. The business's fifty day moving average is $10.35 and its 200 day moving average is $11.14. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of -75.16 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. On average, analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In related news, COO Eric Venker sold 434,478 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.82, for a total value of $4,701,051.96. Following the transaction, the chief operating officer now owns 1,127,290 shares in the company, valued at approximately $12,197,277.80. This represents a 27.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rakhi Kumar sold 227,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the completion of the sale, the chief accounting officer now directly owns 163,264 shares of the company's stock, valued at $1,702,843.52. This represents a 58.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,395,541 shares of company stock worth $14,922,538. Insiders own 7.90% of the company's stock.

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.