Rubric Capital Management LP Sells 600,000 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Rubric Capital Management LP lessened its holdings in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,400,000 shares of the company’s stock after selling 600,000 shares during the quarter. Roivant Sciences makes up about 4.2% of Rubric Capital Management LP’s investment portfolio, making the stock its 4th biggest position. Rubric Capital Management LP’s holdings in Roivant Sciences were worth $258,496,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ROIV. Mutual of America Capital Management LLC grew its stake in shares of Roivant Sciences by 0.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock valued at $3,457,000 after buying an additional 1,142 shares during the period. Acadian Asset Management LLC grew its position in Roivant Sciences by 23.2% during the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock valued at $89,000 after acquiring an additional 1,603 shares during the period. Covestor Ltd increased its stake in Roivant Sciences by 9.1% during the third quarter. Covestor Ltd now owns 19,190 shares of the company’s stock worth $222,000 after acquiring an additional 1,605 shares during the last quarter. US Bancorp DE raised its holdings in shares of Roivant Sciences by 146.5% in the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after purchasing an additional 1,948 shares during the period. Finally, Gladius Capital Management LP acquired a new position in shares of Roivant Sciences in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Insider Activity at Roivant Sciences

In other news, Director Financial Lp Qvt sold 876,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $11.82, for a total value of $10,354,320.00. Following the sale, the director now owns 22,179,358 shares in the company, valued at approximately $262,160,011.56. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value 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. This trade represents a 54.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,677,309 shares of company stock valued at $43,283,184. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

ROIV has been the topic of several research reports. Bank of America raised 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. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.93.

Roivant Sciences Price Performance

Shares of ROIV stock opened at $12.70 on Wednesday. The company’s fifty day moving average price is $11.72 and its two-hundred day moving average price is $11.35. The firm has a market capitalization of $9.24 billion, a P/E ratio of 2.25 and a beta of 1.24. Roivant Sciences Ltd. has a 12 month low of $8.61 and a 12 month high of $13.06.

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.