Adage Capital Partners GP L.L.C. Cuts Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Adage Capital Partners GP L.L.C. lessened its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV - Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,719,983 shares of the company's stock after selling 34,752 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.79% of Roivant Sciences worth $67,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Syon Capital LLC purchased a new position in shares of Roivant Sciences in the 4th quarter worth approximately $270,000. BlackBarn Capital Partners LP raised its holdings in shares of Roivant Sciences by 3.1% in the 4th quarter. BlackBarn Capital Partners LP now owns 4,125,000 shares of the company's stock worth $48,799,000 after purchasing an additional 125,000 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Roivant Sciences by 816.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 63,458 shares of the company's stock worth $751,000 after purchasing an additional 56,534 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Roivant Sciences by 7.4% in the 4th quarter. MetLife Investment Management LLC now owns 242,037 shares of the company's stock worth $2,863,000 after purchasing an additional 16,717 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Roivant Sciences by 104.4% in the 4th quarter. Marshall Wace LLP now owns 2,946,954 shares of the company's stock worth $34,862,000 after purchasing an additional 1,505,062 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ROIV. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Monday, April 21st. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a report on Tuesday, March 4th.

Roivant Sciences Stock Performance

ROIV stock traded up $0.18 during midday trading on Monday, reaching $11.19. 8,301,357 shares of the company's stock traded hands, compared to its average volume of 5,866,249. The company has a 50-day moving average price of $10.34 and a two-hundred day moving average price of $11.14. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06. The firm has a market capitalization of $7.98 billion, a PE ratio of -74.60 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. As a group, analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Insider Activity

In other news, CAO Rakhi Kumar sold 227,500 shares of the business's stock in a transaction on Thursday, February 13th. The shares were 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 $1,702,843.52. The trade was a 58.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Venker sold 100,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $1,022,000.00. Following the transaction, the chief operating officer now owns 1,116,345 shares of the company's stock, valued at $11,409,045.90. This trade represents a 8.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,395,541 shares of company stock worth $14,922,538 in the last three months. Corporate insiders own 7.90% 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.