Rangeley Capital LLC Takes $2.83 Million Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Rangeley Capital LLC bought a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 239,000 shares of the company’s stock, valued at approximately $2,827,000. Roivant Sciences comprises approximately 2.5% of Rangeley Capital LLC’s holdings, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Roivant Sciences by 22.5% during the 4th quarter. Nordea Investment Management AB now owns 282,834 shares of the company’s stock worth $3,306,000 after acquiring an additional 52,031 shares during the period. Barclays PLC lifted its holdings in Roivant Sciences by 19.7% during the 3rd quarter. Barclays PLC now owns 459,521 shares of the company’s stock valued at $5,302,000 after purchasing an additional 75,609 shares during the last quarter. Retirement Systems of Alabama boosted its position in Roivant Sciences by 26.9% during the third quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock worth $6,116,000 after purchasing an additional 112,286 shares during the period. Elevate Capital Advisors LLC acquired a new position in shares of Roivant Sciences in the fourth quarter valued at $2,116,000. Finally, State Street Corp raised its position in shares of Roivant Sciences by 6.1% in the third quarter. State Street Corp now owns 19,561,249 shares of the company’s stock valued at $225,737,000 after purchasing an additional 1,118,561 shares during the period. 64.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ROIV. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.10.

Roivant Sciences Trading Up 2.3 %

Shares of ROIV opened at $10.08 on Thursday. Roivant Sciences Ltd. has a 12 month low of $9.76 and a 12 month high of $13.06. The firm’s 50 day moving average is $10.67 and its 200-day moving average is $11.36. The stock has a market capitalization of $7.19 billion, a PE ratio of -67.20 and a beta of 1.26.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. Equities research analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Rakhi Kumar sold 227,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the transaction, the chief accounting officer now owns 163,264 shares of the company’s stock, valued at approximately $1,702,843.52. The trade was a 58.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of Roivant Sciences stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the completion of the purchase, the director now directly owns 96,650,341 shares of the company’s stock, valued at $1,933,006,820. This represents a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 1,395,541 shares of company stock valued at $15,028,538 over the last quarter. 7.90% of the stock is owned by company insiders.

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.