PDT Partners LLC Purchases 215,000 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

PDT Partners LLC raised its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 116.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 399,107 shares of the company’s stock after acquiring an additional 215,000 shares during the quarter. PDT Partners LLC owned about 0.05% of Roivant Sciences worth $4,606,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Mutual of America Capital Management LLC lifted its stake in shares of Roivant Sciences by 0.4% in 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 purchasing an additional 1,142 shares during the period. Acadian Asset Management LLC lifted its stake in Roivant Sciences by 23.2% in the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock valued at $89,000 after buying an additional 1,603 shares during the period. Covestor Ltd lifted its stake in Roivant Sciences by 9.1% in the third quarter. Covestor Ltd now owns 19,190 shares of the company’s stock valued at $222,000 after buying an additional 1,605 shares during the period. US Bancorp DE boosted its holdings in shares of Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after buying an additional 1,948 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new stake in shares of Roivant Sciences during the 3rd quarter worth approximately $35,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the transaction, the chief executive officer now directly owns 17,870,543 shares of the company’s stock, valued at $210,693,701.97. The trade was a 9.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the 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 completion of the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 3,677,309 shares of company stock valued at $43,283,184. 7.90% of the stock is owned by corporate insiders.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $12.71 on Friday. The company has a 50-day moving average price of $11.76 and a 200-day moving average price of $11.38. The stock has a market capitalization of $9.25 billion, a P/E ratio of 2.25 and a beta of 1.24. Roivant Sciences Ltd. has a 1 year low of $9.34 and a 1 year high of $13.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ROIV shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.93.

Roivant Sciences Company 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.