Entropy Technologies LP Takes Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Entropy Technologies LP acquired a new stake in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the 3rd quarter, Holdings Channel reports. The fund acquired 13,200 shares of the company’s stock, valued at approximately $152,000.

A number of other hedge funds have also recently bought and sold shares of ROIV. Rubric Capital Management LP lifted its stake in shares of Roivant Sciences by 15.0% during the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after purchasing an additional 3,000,000 shares during the period. Vanguard Group Inc. lifted its position in Roivant Sciences by 14.6% during the first quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock worth $85,441,000 after buying an additional 1,030,681 shares during the period. DME Capital Management LP boosted its stake in Roivant Sciences by 14.8% in the 2nd quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock worth $50,852,000 after buying an additional 620,470 shares during the last quarter. BlackBarn Capital Partners LP grew its holdings in Roivant Sciences by 63.1% in the 2nd quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after buying an additional 1,199,406 shares during the period. Finally, Troluce Capital Advisors LLC purchased a new stake in Roivant Sciences in the 2nd quarter valued at about $31,182,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CAO Rakhi Kumar sold 250,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the transaction, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. This trade represents a 54.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $11.65, for a total value of $1,165,000.00. Following the completion of the sale, the chief operating officer now directly owns 617,470 shares of the company’s stock, valued at $7,193,525.50. The trade was a 13.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,577,309 shares of company stock worth $42,151,184. 7.90% of the stock is currently owned by corporate insiders.

Roivant Sciences Stock Down 3.8 %

Shares of ROIV stock opened at $11.20 on Monday. Roivant Sciences Ltd. has a fifty-two week low of $8.56 and a fifty-two week high of $13.06. The firm’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $11.32. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 1.98 and a beta of 1.24.

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.