Transcend Capital Advisors LLC Takes $187,000 Position in Roivant Sciences Ltd. $ROIV

Transcend Capital Advisors LLC acquired a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,563 shares of the company’s stock, valued at approximately $187,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in Roivant Sciences by 3.8% during the first quarter. Invesco Ltd. now owns 9,880,526 shares of the company’s stock worth $99,695,000 after buying an additional 365,468 shares during the last quarter. BlackBarn Capital Partners LP raised its position in shares of Roivant Sciences by 15.2% in the 1st quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock valued at $47,928,000 after acquiring an additional 625,000 shares during the period. Bank of New York Mellon Corp boosted its stake in Roivant Sciences by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company’s stock worth $40,362,000 after acquiring an additional 560,641 shares during the last quarter. Nuveen LLC bought a new position in Roivant Sciences during the 1st quarter worth approximately $31,988,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Roivant Sciences by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,847,625 shares of the company’s stock valued at $28,733,000 after purchasing an additional 35,123 shares during the period. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Stock Performance

ROIV opened at $19.99 on Friday. The firm has a market cap of $13.65 billion, a P/E ratio of -28.56 and a beta of 1.20. The business’s fifty day moving average is $15.33 and its 200-day moving average is $12.64. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $20.08.

Insider Buying and Selling

In other Roivant Sciences news, CEO Eric Venker sold 683,818 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the completion of the transaction, the chief executive officer directly owned 1,969,767 shares in the company, valued at $29,448,016.65. The trade was a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total value of $14,937,500.00. Following the sale, the insider owned 36,089,108 shares of the company’s stock, valued at $451,113,850. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,228,958 shares of company stock worth $76,447,638 over the last three months. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Weiss Ratings raised Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Jefferies Financial Group lifted their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Guggenheim upped their target price on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Finally, Leerink Partners raised their price objective on Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Roivant Sciences has a consensus rating of “Moderate Buy” and an average price target of $21.06.

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.