Quinn Opportunity Partners LLC Takes $451,000 Position in Roivant Sciences Ltd. $ROIV

Quinn Opportunity Partners LLC purchased a new position in Roivant Sciences Ltd. (NASDAQ:ROIV) during the second quarter, Holdings Channel.com reports. The firm purchased 40,000 shares of the company’s stock, valued at approximately $451,000.

A number of other hedge funds also recently bought and sold shares of the company. CWM LLC raised its holdings in shares of Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after acquiring an additional 920 shares during the period. Russell Investments Group Ltd. raised its stake in Roivant Sciences by 94.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock valued at $46,000 after purchasing an additional 2,233 shares during the period. UMB Bank n.a. lifted its holdings in shares of Roivant Sciences by 42.0% in the second quarter. UMB Bank n.a. now owns 5,883 shares of the company’s stock valued at $66,000 after purchasing an additional 1,740 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Roivant Sciences by 22.9% in the second quarter. GAMMA Investing LLC now owns 7,978 shares of the company’s stock worth $90,000 after buying an additional 1,485 shares during the period. Finally, Rossby Financial LCC purchased a new position in shares of Roivant Sciences during the second quarter valued at $113,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. HC Wainwright raised their price objective on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Finally, Leerink Partners restated an “outperform” rating and set a $29.00 price target on shares of Roivant Sciences in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.06.

Roivant Sciences Stock Up 2.0%

NASDAQ:ROIV opened at $21.32 on Thursday. The company’s 50 day moving average is $16.69 and its 200-day moving average is $13.22. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of -38.07 and a beta of 1.23. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $21.35.

Insider Activity at Roivant Sciences

In other news, CEO Eric Venker sold 683,818 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the completion of the sale, the insider owned 36,089,108 shares in the company, valued at approximately $451,113,850. The trade was a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,428,958 shares of company stock worth $80,491,638. Company insiders own 10.80% of the company’s stock.

Roivant Sciences 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.