Entropy Technologies LP Purchases Shares of 99,973 Roivant Sciences Ltd. (NASDAQ:ROIV)

Entropy Technologies LP purchased a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 99,973 shares of the company’s stock, valued at approximately $1,009,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROIV. LPL Financial LLC boosted its position in Roivant Sciences by 11.3% in the 4th quarter. LPL Financial LLC now owns 73,308 shares of the company’s stock valued at $867,000 after buying an additional 7,452 shares during the period. Wells Fargo & Company MN boosted its position in Roivant Sciences by 84.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock valued at $89,000 after buying an additional 3,426 shares during the period. Envestnet Asset Management Inc. purchased a new position in Roivant Sciences in the 4th quarter valued at approximately $318,000. Russell Investments Group Ltd. raised its holdings in shares of Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock valued at $28,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Roivant Sciences by 20.2% in the 4th quarter. Bank of Montreal Can now owns 48,026 shares of the company’s stock valued at $568,000 after purchasing an additional 8,084 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Insider Buying and Selling at Roivant Sciences

In related news, CEO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Monday, July 21st. The shares were sold at an average price of $11.52, for a total transaction of $1,152,000.00. Following the sale, the chief executive officer directly owned 1,462,223 shares in the company, valued at $16,844,808.96. This trade represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the sale, the insider owned 37,284,108 shares in the company, valued at $427,275,877.68. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,190,503 shares of company stock worth $36,086,546 over the last quarter. 10.80% of the stock is owned by company insiders.

Roivant Sciences Trading Down 2.8%

Shares of ROIV opened at $11.17 on Tuesday. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06. The firm’s fifty day simple moving average is $11.33 and its 200-day simple moving average is $10.87. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of -44.68 and a beta of 1.15.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. On average, analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ROIV shares. The Goldman Sachs Group upgraded shares of Roivant Sciences to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Thursday, July 10th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, June 18th.

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.