Quarry LP Raises Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Quarry LP grew its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 50.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,500 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Quarry LP’s holdings in Roivant Sciences were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TOMS Capital Investment Management LP purchased a new stake in Roivant Sciences during the 3rd quarter valued at $46,333,000. Rubric Capital Management LP boosted its position in shares of Roivant Sciences by 15.0% during the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock valued at $243,110,000 after buying an additional 3,000,000 shares during the last quarter. Troluce Capital Advisors LLC bought a new stake in Roivant Sciences in the 2nd quarter worth about $31,182,000. FMR LLC raised its position in Roivant Sciences by 5.6% in the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after buying an additional 2,593,910 shares during the last quarter. Finally, BlackBarn Capital Partners LP lifted its stake in Roivant Sciences by 63.1% during the 2nd quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after acquiring an additional 1,199,406 shares during the period. Institutional investors own 64.76% of the company’s stock.

Insider Activity at Roivant Sciences

In other news, CEO Matthew Gline sold 1,983,257 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $23,382,600.03. Following the transaction, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. The trade was a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at $2,488,838.58. This represents a 54.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,677,309 shares of company stock worth $43,283,184. 7.90% of the stock is owned by company insiders.

Roivant Sciences Stock Up 2.3 %

Shares of ROIV opened at $12.36 on Friday. The business has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $11.41. Roivant Sciences Ltd. has a 52 week low of $9.48 and a 52 week high of $13.06. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 2.19 and a beta of 1.25.

Wall Street Analyst Weigh In

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

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.