Vestal Point Capital LP Acquires Shares of 1,250,000 Roivant Sciences Ltd. (NASDAQ:ROIV)

Vestal Point Capital LP acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,250,000 shares of the company’s stock, valued at approximately $14,788,000.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Roivant Sciences by 478.6% in the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock valued at $28,000 after acquiring an additional 1,948 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Roivant Sciences in the fourth quarter valued at about $39,000. PNC Financial Services Group Inc. increased its position in shares of Roivant Sciences by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after acquiring an additional 1,507 shares during the period. Wells Fargo & Company MN increased its position in shares of Roivant Sciences by 84.1% in the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock valued at $89,000 after acquiring an additional 3,426 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Roivant Sciences by 550.1% in the fourth quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock valued at $91,000 after acquiring an additional 6,667 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Ratings Changes

ROIV has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Monday, April 21st. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $10.79 on Monday. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $13.06. The company’s 50-day moving average is $10.51 and its 200 day moving average is $11.07. The stock has a market capitalization of $7.70 billion, a P/E ratio of -71.93 and a beta of 1.23.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 273,959 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $11.47, for a total value of $3,142,309.73. Following the sale, the insider now owns 39,799,611 shares in the company, valued at approximately $456,501,538.17. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the sale, the chief operating officer now owns 896,869 shares in the company, valued at approximately $9,551,654.85. This trade represents a 10.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,223,959 shares of company stock worth $13,420,035 over the last 90 days. 7.90% of the stock is owned by company insiders.

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.