VELA Investment Management LLC Buys 2,621 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

VELA Investment Management LLC increased its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,386 shares of the company’s stock after buying an additional 2,621 shares during the period. VELA Investment Management LLC’s holdings in Roivant Sciences were worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citigroup Inc. grew its position in shares of Roivant Sciences by 45.6% in the third quarter. Citigroup Inc. now owns 326,431 shares of the company’s stock valued at $3,813,000 after purchasing an additional 102,279 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Roivant Sciences by 48.7% during the third quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock worth $225,560,000 after buying an additional 6,324,915 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Roivant Sciences by 18.4% in the third quarter. Deerfield Management Company L.P. Series C now owns 1,604,487 shares of the company’s stock worth $18,740,000 after acquiring an additional 249,513 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Roivant Sciences during the third quarter worth $4,200,000. Finally, Corton Capital Inc. boosted its holdings in Roivant Sciences by 87.2% in the 3rd quarter. Corton Capital Inc. now owns 27,236 shares of the company’s stock valued at $318,000 after purchasing an additional 12,685 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the transaction, the chief operating officer now directly owns 532,207 shares in the company, valued at approximately $5,811,700.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.60% of the company’s stock.

Roivant Sciences Price Performance

NASDAQ ROIV traded down $0.01 on Tuesday, hitting $10.83. 686,811 shares of the company were exchanged, compared to its average volume of 6,968,514. Roivant Sciences Ltd. has a 1-year low of $7.60 and a 1-year high of $13.24. The firm has a 50 day moving average of $10.96 and a two-hundred day moving average of $10.36. The company has a current ratio of 27.79, a quick ratio of 27.79 and a debt-to-equity ratio of 0.06. The company has a market cap of $8.73 billion, a P/E ratio of 2.08 and a beta of 1.34.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The business had revenue of $37.14 million for the quarter, compared to analysts’ expectations of $30.72 million. On average, equities analysts predict that Roivant Sciences Ltd. will post -1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. TheStreet upgraded shares of Roivant Sciences from a “d” rating to a “c+” rating in a research note on Tuesday, February 13th. Bank of America upped their target price on shares of Roivant Sciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, January 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $23.00 price objective on shares of Roivant Sciences in a report on Monday, March 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.90.

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.