Charles Schwab Investment Management Inc. Grows Position in Roivant Sciences Ltd. $ROIV

Charles Schwab Investment Management Inc. lifted its stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,847,625 shares of the company’s stock after buying an additional 35,123 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.40% of Roivant Sciences worth $28,733,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Patient Square Capital LP raised its holdings in shares of Roivant Sciences by 2.1% during the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company’s stock valued at $147,638,000 after buying an additional 251,535 shares during the period. Two Seas Capital LP raised its holdings in shares of Roivant Sciences by 4.6% during the 4th quarter. Two Seas Capital LP now owns 10,167,807 shares of the company’s stock valued at $120,285,000 after buying an additional 442,914 shares during the period. TOMS Capital Investment Management LP raised its holdings in shares of Roivant Sciences by 46.6% during the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company’s stock valued at $69,620,000 after buying an additional 1,870,000 shares during the period. BlackBarn Capital Partners LP raised its holdings in shares of Roivant Sciences by 3.1% during the 4th quarter. BlackBarn Capital Partners LP now owns 4,125,000 shares of the company’s stock valued at $48,799,000 after buying an additional 125,000 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Roivant Sciences by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock valued at $40,362,000 after buying an additional 560,641 shares during the period. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eric Venker sold 566,278 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total value of $6,353,639.16. Following the transaction, the chief operating officer owned 1,462,223 shares of the company’s stock, valued at $16,406,142.06. This represents a 27.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,090,503 shares of company stock valued at $34,991,546 in the last 90 days. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ROIV shares. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th. The Goldman Sachs Group upgraded Roivant Sciences to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.50.

Roivant Sciences Trading Down 0.4%

Shares of ROIV opened at $11.76 on Wednesday. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of -16.80 and a beta of 1.15. The stock has a 50 day moving average of $11.40 and a 200-day moving average of $10.90. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%.During the same quarter in the previous year, the business posted ($0.23) EPS. On average, sell-side analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

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.