Roivant Sciences Ltd. (NASDAQ:ROIV) is Rubric Capital Management LP’s 4th Largest Position

Rubric Capital Management LP lessened its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 2.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,400,000 shares of the company’s stock after selling 600,000 shares during the quarter. Roivant Sciences comprises 4.2% of Rubric Capital Management LP’s investment portfolio, making the stock its 4th biggest holding. Rubric Capital Management LP owned about 3.03% of Roivant Sciences worth $258,496,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Roivant Sciences in the second quarter valued at about $34,000. Gladius Capital Management LP acquired a new position in Roivant Sciences in the 3rd quarter valued at about $35,000. Point72 Hong Kong Ltd purchased a new stake in Roivant Sciences during the 2nd quarter valued at approximately $36,000. US Bancorp DE lifted its position in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after acquiring an additional 1,948 shares during the period. Finally, Quarry LP acquired a new stake in Roivant Sciences during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ROIV shares. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.93.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, Director Financial Lp Qvt sold 876,000 shares of Roivant Sciences stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $11.82, for a total transaction of $10,354,320.00. Following the completion of the transaction, the director now owns 22,179,358 shares in the company, valued at approximately $262,160,011.56. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rakhi Kumar sold 250,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the sale, the chief accounting officer now directly owns 209,322 shares in the company, valued at $2,488,838.58. This trade represents a 54.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,677,309 shares of company stock valued at $43,283,184 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Roivant Sciences Stock Up 1.9 %

Shares of NASDAQ ROIV opened at $12.70 on Wednesday. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 2.25 and a beta of 1.24. Roivant Sciences Ltd. has a 52 week low of $8.61 and a 52 week high of $13.06. The firm has a 50-day moving average price of $11.72 and a 200 day moving average price of $11.35.

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.