Edgestream Partners L.P. Purchases Shares of 48,226 Roivant Sciences Ltd. (NASDAQ:ROIV)

Edgestream Partners L.P. acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 48,226 shares of the company’s stock, valued at approximately $557,000.

Several other institutional investors also recently modified their holdings of ROIV. Gladius Capital Management LP bought a new position in Roivant Sciences during the third quarter worth about $35,000. nVerses Capital LLC acquired a new stake in shares of Roivant Sciences in the second quarter valued at approximately $34,000. US Bancorp DE boosted its stake 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 acquiring an additional 1,948 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $36,000. Finally, Quarry LP bought a new stake in Roivant Sciences in the 2nd quarter valued at $53,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Roivant Sciences news, Director Financial Lp Qvt sold 876,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $11.82, for a total transaction of $10,354,320.00. Following the sale, the director now directly owns 22,179,358 shares in the company, valued at $262,160,011.56. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The trade was a 54.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,677,309 shares of company stock worth $43,283,184 in the last 90 days. Company insiders own 7.90% of the company’s stock.

Roivant Sciences Trading Down 0.2 %

NASDAQ ROIV opened at $12.08 on Friday. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 2.14 and a beta of 1.25. The company has a 50 day moving average of $11.80 and a 200-day moving average of $11.40. Roivant Sciences Ltd. has a 1-year low of $9.48 and a 1-year high of $13.06.

Analysts Set New Price Targets

Several research firms have commented on ROIV. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Bank of America increased their price target 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 restated a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.