PointState Capital LP Reduces Stock Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

PointState Capital LP reduced its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,107,852 shares of the company’s stock after selling 376,846 shares during the quarter. Roivant Sciences comprises 0.9% of PointState Capital LP’s investment portfolio, making the stock its 22nd biggest position. PointState Capital LP owned about 0.56% of Roivant Sciences worth $47,405,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ROIV. TOMS Capital Investment Management LP purchased a new stake in Roivant Sciences in the 3rd quarter worth approximately $46,333,000. Rubric Capital Management LP increased its holdings in shares of Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after buying an additional 3,000,000 shares during the last quarter. Troluce Capital Advisors LLC bought a new position in shares of Roivant Sciences in the 2nd quarter worth $31,182,000. FMR LLC grew its holdings in shares of Roivant Sciences by 5.6% during the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock valued at $567,134,000 after purchasing an additional 2,593,910 shares during the last quarter. Finally, BlackBarn Capital Partners LP grew its holdings in shares of 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 purchasing an additional 1,199,406 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, COO Eric Venker sold 100,000 shares of the business’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 transaction, the chief operating officer now owns 617,470 shares of the company’s stock, valued at approximately $7,193,525.50. The trade was a 13.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith S. Manchester sold 368,052 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the completion of the transaction, the director now directly owns 1,412,126 shares in the company, valued at $16,408,904.12. The trade was a 20.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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

NASDAQ:ROIV opened at $12.12 on Wednesday. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 2.15 and a beta of 1.25. The company has a 50 day moving average price of $11.78 and a 200-day moving average price of $11.39. Roivant Sciences Ltd. has a 1-year low of $9.48 and a 1-year high of $13.06.

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.