Rangeley Capital LLC Invests $2.83 Million in Roivant Sciences Ltd. (NASDAQ:ROIV)

Rangeley Capital LLC acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) in the fourth quarter, Holdings Channel reports. The firm acquired 239,000 shares of the company’s stock, valued at approximately $2,827,000. Roivant Sciences accounts for 2.5% of Rangeley Capital LLC’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Roivant Sciences by 57.0% during the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock worth $42,000 after buying an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Roivant Sciences by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,079 shares of the company’s stock valued at $84,000 after purchasing an additional 1,507 shares in the last quarter. Quarry LP increased its holdings in Roivant Sciences by 50.0% in the third quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares in the last quarter. Blue Trust Inc. lifted its stake in 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 buying an additional 6,667 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of Roivant Sciences during the 4th quarter worth approximately $121,000. 64.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Roivant Sciences news, CAO Rakhi Kumar sold 227,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.43, for a total value of $2,372,825.00. Following the completion of the sale, the chief accounting officer now directly owns 163,264 shares of the company’s stock, valued at $1,702,843.52. This trade represents a 58.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $336,900,200.00. Following the transaction, the director now directly owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. The trade was a 21.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 1,395,541 shares of company stock valued at $15,028,538. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $17.10.

Roivant Sciences Stock Performance

ROIV stock opened at $10.08 on Thursday. The company has a market capitalization of $7.19 billion, a P/E ratio of -67.20 and a beta of 1.26. Roivant Sciences Ltd. has a 52-week low of $9.76 and a 52-week high of $13.06. The business has a 50-day simple moving average of $10.67 and a two-hundred day simple moving average of $11.36.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Monday, February 10th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

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.