E Fund Management Co. Ltd. Trims Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

E Fund Management Co. Ltd. trimmed its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 8.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 46,328 shares of the company’s stock after selling 4,319 shares during the period. E Fund Management Co. Ltd.’s holdings in Roivant Sciences were worth $467,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ROIV. Patient Square Capital LP increased its stake in Roivant Sciences by 2.1% during the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company’s stock worth $147,638,000 after buying an additional 251,535 shares during the period. Two Seas Capital LP increased its stake in Roivant Sciences by 4.6% during the 4th quarter. Two Seas Capital LP now owns 10,167,807 shares of the company’s stock worth $120,285,000 after buying an additional 442,914 shares during the period. Invesco Ltd. increased its stake in Roivant Sciences by 3.8% during the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company’s stock worth $99,695,000 after buying an additional 365,468 shares during the period. TOMS Capital Investment Management LP increased its stake in Roivant Sciences by 46.6% during the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company’s stock worth $69,620,000 after buying an additional 1,870,000 shares during the period. Finally, BlackBarn Capital Partners LP increased its stake in Roivant Sciences by 3.1% during the 4th quarter. BlackBarn Capital Partners LP now owns 4,125,000 shares of the company’s stock worth $48,799,000 after buying an additional 125,000 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roivant Sciences

In other news, COO Eric Venker sold 566,278 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total value of $6,353,639.16. Following the completion of the transaction, the chief operating officer owned 1,462,223 shares in the company, valued at approximately $16,406,142.06. This represents a 27.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares of the company’s stock, valued at approximately $427,275,877.68. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,190,503 shares of company stock valued at $36,086,546. Company insiders own 10.80% of the company’s stock.

Roivant Sciences Stock Down 1.8%

NASDAQ ROIV opened at $11.75 on Friday. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06. The stock has a market capitalization of $7.99 billion, a PE ratio of -16.79 and a beta of 1.15. The firm has a 50 day moving average of $11.37 and a two-hundred day moving average of $10.89.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 15.90% and a negative net margin of 2,111.79%. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter last year, the firm earned ($0.23) EPS. On average, equities research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ROIV shares. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, June 18th. The Goldman Sachs Group upgraded shares of Roivant Sciences to a “strong-buy” rating and set a $19.00 price target for the company in a report on Thursday, July 10th.

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.