Zweig DiMenna Associates LLC Takes Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Zweig DiMenna Associates LLC purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 99,500 shares of the company's stock, valued at approximately $1,177,000.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Roivant Sciences by 22.5% in the 4th quarter. Nordea Investment Management AB now owns 282,834 shares of the company's stock valued at $3,306,000 after acquiring an additional 52,031 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Roivant Sciences by 51.3% in the second quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company's stock valued at $19,666,000 after purchasing an additional 630,712 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Roivant Sciences by 40.1% in the second quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company's stock valued at $6,840,000 after purchasing an additional 185,226 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Roivant Sciences in the third quarter valued at approximately $2,267,000. Finally, TOMS Capital Investment Management LP purchased a new stake in shares of Roivant Sciences during the third quarter worth $46,333,000. 64.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total transaction of $1,132,000.00. Following the completion of the sale, the chief operating officer now owns 606,525 shares of the company's stock, valued at $6,865,863. The trade was a 14.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sciences Ltd. Roivant acquired 16,845,010 shares of the business's stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the transaction, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 1,942,629 shares of company stock worth $23,034,486. Insiders own 7.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.93.

Roivant Sciences Trading Down 0.4 %

Roivant Sciences stock traded down $0.04 during trading hours on Friday, hitting $11.17. 4,843,916 shares of the stock traded hands, compared to its average volume of 4,585,253. The firm's 50-day moving average price is $11.75 and its two-hundred day moving average price is $11.60. Roivant Sciences Ltd. has a one year low of $9.69 and a one year high of $13.06. The company has a market cap of $8.13 billion, a PE ratio of 1.98 and a beta of 1.27.

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.