Corbin Capital Partners L.P. cut its stake in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 69.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,641 shares of the company's stock after selling 104,245 shares during the quarter. Roivant Sciences accounts for about 0.9% of Corbin Capital Partners L.P.'s portfolio, making the stock its 9th biggest position. Corbin Capital Partners L.P.'s holdings in Roivant Sciences were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of ROIV. GAMMA Investing LLC grew its position in Roivant Sciences by 57.0% in the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company's stock worth $42,000 after purchasing an additional 1,288 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Roivant Sciences by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company's stock worth $84,000 after acquiring an additional 1,507 shares during the period. Victory Capital Management Inc. boosted its position in Roivant Sciences by 6.1% in the fourth quarter. Victory Capital Management Inc. now owns 27,494 shares of the company's stock worth $325,000 after purchasing an additional 1,588 shares during the last quarter. M&T Bank Corp increased its position in shares of Roivant Sciences by 16.3% during the 4th quarter. M&T Bank Corp now owns 13,194 shares of the company's stock valued at $156,000 after purchasing an additional 1,851 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Roivant Sciences by 50.0% during the 3rd quarter. Quarry LP now owns 7,500 shares of the company's stock worth $87,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 64.76% of the company's stock.
Insiders Place Their Bets
In other Roivant Sciences news, COO Eric Venker sold 218,041 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.42, for a total value of $2,271,987.22. Following the completion of the transaction, the chief operating officer now directly owns 896,869 shares of the company's stock, valued at $9,345,374.98. This trade represents a 19.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rakhi Kumar sold 227,500 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the transaction, the chief accounting officer now directly owns 163,264 shares in the company, valued at approximately $1,702,843.52. The trade was a 58.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,439,640 shares of company stock worth $27,451,035 in the last quarter. 7.90% of the stock is owned by company insiders.
Roivant Sciences Price Performance
Shares of ROIV traded down $0.16 during trading hours on Tuesday, hitting $10.67. The company's stock had a trading volume of 6,588,854 shares, compared to its average volume of 5,635,938. The company has a market cap of $7.61 billion, a price-to-earnings ratio of -71.13 and a beta of 1.26. The business has a 50 day simple moving average of $10.79 and a two-hundred day simple moving average of $11.45. Roivant Sciences Ltd. has a 52-week low of $9.93 and a 52-week high of $13.06.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. Research analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have commented on ROIV. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $18.08.
Check Out Our Latest Analysis on ROIV
Roivant Sciences Profile
(
Free Report)
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.
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