AlphaCentric Advisors LLC Grows Stake in Roivant Sciences Ltd. (NASDAQ:ROIV)

AlphaCentric Advisors LLC raised its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 13.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the company’s stock after buying an additional 12,000 shares during the period. AlphaCentric Advisors LLC’s holdings in Roivant Sciences were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rubric Capital Management LP increased its holdings in shares of Roivant Sciences by 15.0% in the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after buying an additional 3,000,000 shares during the period. Vanguard Group Inc. lifted its position in Roivant Sciences by 14.6% in the first quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock valued at $85,441,000 after purchasing an additional 1,030,681 shares during the last quarter. DME Capital Management LP boosted its stake in shares of Roivant Sciences by 14.8% during the second quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock valued at $50,852,000 after purchasing an additional 620,470 shares during the period. BlackBarn Capital Partners LP increased its stake in shares of Roivant Sciences by 63.1% in the second quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock worth $32,767,000 after buying an additional 1,199,406 shares during the period. Finally, Troluce Capital Advisors LLC purchased a new stake in Roivant Sciences during the 2nd quarter valued at $31,182,000. Institutional investors own 64.76% of the company’s stock.

Insiders Place Their Bets

In related news, Director Keith S. Manchester sold 368,052 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the completion of the transaction, the director now owns 1,412,126 shares of the company’s stock, valued at approximately $16,408,904.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the sale, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at approximately $2,488,838.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith S. Manchester sold 368,052 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the sale, the director now owns 1,412,126 shares of the company’s stock, valued at $16,408,904.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,577,309 shares of company stock valued at $42,151,184 over the last 90 days. 7.90% of the stock is owned by company insiders.

Roivant Sciences Stock Down 1.3 %

Shares of ROIV opened at $11.53 on Tuesday. The stock has a fifty day simple moving average of $11.81 and a two-hundred day simple moving average of $11.27. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $8.53 billion, a PE ratio of 2.07 and a beta of 1.24. Roivant Sciences Ltd. has a 52-week low of $8.47 and a 52-week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. Roivant Sciences’s revenue was up 155.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) EPS. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Bank of America raised their price target on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and an average price target of $17.39.

Roivant Sciences 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.