Prelude Capital Management LLC Acquires 19,700 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Prelude Capital Management LLC raised its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 93.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,800 shares of the company’s stock after purchasing an additional 19,700 shares during the period. Prelude Capital Management LLC’s holdings in Roivant Sciences were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in Roivant Sciences by 18.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,774 shares of the company’s stock valued at $102,000 after purchasing an additional 2,132 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Roivant Sciences by 5.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 41,033 shares of the company’s stock worth $303,000 after acquiring an additional 2,189 shares in the last quarter. Pathstone Family Office LLC raised its position in shares of Roivant Sciences by 6.1% in the 3rd quarter. Pathstone Family Office LLC now owns 38,488 shares of the company’s stock worth $124,000 after acquiring an additional 2,227 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Roivant Sciences by 39.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,276 shares of the company’s stock worth $76,000 after acquiring an additional 2,907 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Roivant Sciences by 25.4% in the 1st quarter. Hsbc Holdings PLC now owns 14,684 shares of the company’s stock worth $71,000 after acquiring an additional 2,978 shares in the last quarter. Institutional investors own 64.76% of the company’s stock.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 106,430 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $12.19, for a total value of $1,297,381.70. Following the transaction, the chief operating officer now directly owns 611,813 shares in the company, valued at approximately $7,458,000.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Rakhi Kumar sold 3,681 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $12.00, for a total value of $44,172.00. Following the transaction, the chief accounting officer now directly owns 199,328 shares in the company, valued at approximately $2,391,936. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Eric Venker sold 106,430 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $12.19, for a total value of $1,297,381.70. Following the completion of the transaction, the chief operating officer now owns 611,813 shares in the company, valued at $7,458,000.47. The disclosure for this sale can be found here. Insiders have sold a total of 13,715,072 shares of company stock worth $137,023,241 in the last ninety days. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROIV. Bank of America increased their target price on Roivant Sciences from $10.50 to $11.00 in a research report on Friday, June 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 target price on shares of Roivant Sciences in a research report on Monday. Truist Financial reaffirmed a “buy” rating and set a $23.00 price objective on shares of Roivant Sciences in a research report on Friday, July 14th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Tuesday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on Roivant Sciences from $14.00 to $16.00 in a research report on Friday, July 14th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Roivant Sciences Stock Performance

Shares of ROIV opened at $11.12 on Tuesday. The business’s fifty day simple moving average is $11.39 and its two-hundred day simple moving average is $9.69. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.29. Roivant Sciences Ltd. has a 12 month low of $2.87 and a 12 month high of $12.84. The company has a market cap of $8.58 billion, a price-to-earnings ratio of -8.30 and a beta of 1.28.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Monday, August 14th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.10). Roivant Sciences had a negative net margin of 1,233.11% and a negative return on equity of 73.68%. The business had revenue of $21.60 million for the quarter, compared to analysts’ expectations of $24.49 million. During the same quarter in the prior year, the business posted ($0.48) earnings per share. The business’s revenue for the quarter was up 402.3% on a year-over-year basis. Research analysts anticipate that Roivant Sciences Ltd. will post -1.06 earnings per share for the current fiscal year.

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.