TOMS Capital Investment Management LP Acquires Shares of 4,015,000 Roivant Sciences Ltd. (NASDAQ:ROIV)

TOMS Capital Investment Management LP bought a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,015,000 shares of the company’s stock, valued at approximately $46,333,000. Roivant Sciences accounts for approximately 1.7% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 10th largest holding. TOMS Capital Investment Management LP owned 0.54% of Roivant Sciences as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its holdings in shares of Roivant Sciences by 0.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock valued at $3,457,000 after acquiring an additional 1,142 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Roivant Sciences by 23.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock worth $89,000 after purchasing an additional 1,603 shares in the last quarter. Covestor Ltd increased its holdings in Roivant Sciences by 9.1% during the 3rd quarter. Covestor Ltd now owns 19,190 shares of the company’s stock worth $222,000 after purchasing an additional 1,605 shares in the last quarter. US Bancorp DE grew its holdings in shares of Roivant Sciences by 146.5% in the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock valued at $38,000 after acquiring an additional 1,948 shares in the last quarter. Finally, Gladius Capital Management LP bought a new position in shares of Roivant Sciences in the third quarter valued at approximately $35,000. Institutional investors own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ROIV. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, Bank of America raised their target price on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.93.

Insider Activity

In other news, CAO Rakhi Kumar sold 250,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 209,322 shares in the company, valued at approximately $2,488,838.58. This represents a 54.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $11.65, for a total transaction of $1,165,000.00. Following the sale, the chief operating officer now owns 617,470 shares in the company, valued at $7,193,525.50. This represents a 13.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,677,309 shares of company stock valued at $43,283,184 in the last 90 days. Company insiders own 7.90% of the company’s stock.

Roivant Sciences Price Performance

Shares of ROIV stock opened at $12.71 on Monday. Roivant Sciences Ltd. has a 1 year low of $9.34 and a 1 year high of $13.06. The firm has a fifty day moving average price of $11.76 and a 200-day moving average price of $11.38. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 2.25 and a beta of 1.24.

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.